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Investment Firm GP Bullhound Predicts A Market Meltdown

Sebastian Markowsky, a director at the investment bank GP Bullhound, has predicted a market meltdown on the market that will cause a disaster for cryptocurrency investors, according to an article on CNBC. In his report titled “Token Frenzy: The Fuel of the Blockchain”, he states that prices will drop 90% causing panic sellouts all across the globe and originating heavy losses to investors who bought cryptocurrencies with high prices.
In his paper, he also predicts that the market will experience a sustained and sharp growth this year, as institutions approach bitcoin and other currencies with interest as an investment product. But then this will cause an overbought market that will finally fall to its lowest point in many years. Most cryptocurrency related businesses will not survive this fall. But there is a silver lining: he also affirms that after this so-called “cryptocurrency winter”, the market will experience a rebirth like no other, shedding the volatility that it had before, and growing at a steady rate.
This pessimistic prediction seems out of place in this second quarter, and more now that bitcoin and other cryptocurrencies have experienced a growth in the last month, after the first quarter debacle. Most investors and crypto experts have made bullish remarks about the bitcoin price from this date until the end of the year when it is expected to reach its highest. Tom Lee predicted that bitcoin price will reach twenty-five thousand dollars at the end of this year.
ICOs are also briefly touched in the GP Bullhound report; Sebastian predicts that Initial Coin Offerings will keep being relevant, but they will have to show more than a whitepaper to raise their funds. According to him, the next-gen ICOs will have to prove their use cases and implement a semi-working product to achieve their funding goal.

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