The cryptocurrency market collapsed spectacularly in 2018, but A.T. Kearney predicts that Bitcoin will regain nearly two-thirds of the crypto market cap it had previously lost.
The cryptocurrency market collapsed spectacularly in 2018, fuelled by security breaches and hacks, spiking fees, and the popping of a highly speculative bubble.
In 2019, the cryptocurrency market will consolidate, with Bitcoin regaining nearly two-thirds of the crypto market capitalization it had previously lost to the growth of «altcoins», predicts A.T. Kearney Global Business Policy Council in its «Year-Ahead Predictions 2019» report.
More Accomodating Backdrop
The council believes that regulators across several markets, including the U.K. and the U.S., will soften their stance toward the sector while working to improve market transparency.
The U.K. Parliament’s Treasury Committee, which wants to end the «wild west» of crypto markets, will pursue regulations intended to stifle criminal activity and reduce price volatility as it tries to make the U.K. a hub for cryptocurrency markets, the council wrote in its report.
Irony in the Game
At the same time, it notes that the US Securities and Exchange Commission will warm to Bitcoin exchange traded funds, while it works with the U.S. Commodities Futures Trading Commission to improve market transparency.
Ironically, in order for cryptocurrencies to see a third decade, the only viable path forward involves this acceptance by the international financial system that Bitcoin once sought to defeat.
