Forbes: “Bitcoin will reclaim itself in 2019”
Bitcoin investors have had a pretty rough 2018. The cryptocurrency, trading at around $20,000 last year, has lost about 80% of its value and is currently trading under the $4,000 mark. Despite the plunge, consulting firm A.T. Kearney believes it’ll make a strong return next year.
The report, covered by Forbes, predicts that bitcoin “will reclaim nearly two-thirds of the crypto-market capitalization.” As altcoins are slowly being phased out (five have already gone under this year) A.T. Kearney believes more focus will be placed on bitcoin.
The uncertainty and lack of security behind altcoins is driving investors away. Although still lacking in regulation, bitcoin is a much more secure investment. That isn’t to say that all altcoins will disappear. Courtney Rickert McCaffrey, manager of thought leadership in A.T. Kearney’s Global Business Policy Council, believes that the loss of some altcoins will allow others to
“survive and grow up to be explosive enterprises…”
There’s also speculation that the SEC may finally approve the first ever bitcoin exchange-traded fund. SEC’s approval of a bitcoin ETF would mark a major achievement for the cryptocurrency, as well as ensure more security. Despite this year’s plunge, bitcoin continues to grow increasingly popular, and should again manifest itself in markets next year, experts say.