Leading investment Bank GP Bullhound: 90% cryptocurrency can be destroyed within a year

Leading investment Bank GP Bullhound: 90% cryptocurrency can be destroyed within a year

Leading investment Bank GP Bullhound predicted the disappearance of about 90% of all crypto-currencies within the next 12 months. However, in the opinion of the Directors of the Bank, the ICO will remain that will lead to new altcoins.

The report titled “Rush tokens: the fuel for the blockchain”, the managing GP Bullhound Sebastian Markowski described his vision for blockchain technology, cryptocurrencies and the future of ICO.

One of the key predictions of the Bank describes the “serious correction”, which over the next 12 months to face the digital currency. Not all will survive — only about 10% of the strongest.

“Although this correction will be crucial to overcome the current hype, the lack of its impact on financial institutions will give rise to new phenomena that were not observed in any of the bubbles, known history,” according to the report. — “However, once kryptonim end, the dynamics of growth for the few survivors of digital assets will be unprecedented”

Mark NORS, Director of marketing and distribution in the Blockchain Capital, I agree with Sebastian Markowski. In his opinion of the existing 1600 cryptocurrency and hundreds ICO most “do not meet the needs of the market.”

“I see no future for most of them, so Yes, 90 percent will be destroyed. They either will be absorbed by other similar currencies, or just disappear”.

As for the blockchain, and its report Sebastian Markowski voted in favor of this technology, calling it “the most important catalyst for technological change”.

“Last year saw a surge in popularity blockchain technologies … We believe that the underlying technology that is stimulating this surge would transform virtually every aspect of daily life, to change global business practices and even to transform national political systems”.

The report further States that the ICO became a phenomenon and changed the ways for startups gain access to capital.

In 2017, the company with ICO attracted $ 4 billion. investment, five times more than a traditional VC financing, and 47 times more than in 2016.

Markovski said that in 2018 only leading projects with reputable teams and supporters to succeed.

GP Bullhound predicts that funding for the ICO to continue, but will undergo several changes.

Mark NORS configured much more skeptical, believing that the ICO has virtually no chance of success, and that many of them will never appear on the exchanges.

“With ICO, you are simply speculating on the hope that in the future the token will grow in value. That’s why I’m not going to invest in 99 percent of ICO. It is only a matter of time when the cryptocurrency space will flow a serious institutional money. Almost every Bank, Fund, private equity and venture capitalist are already looking for money demanded by their customers.”

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