2019 to be the year of Bitcoin: A.T. Kearney report

By Swati Kishore

As per a report by American global management consulting firm, A.T. Kearney, Bitcoin is set to regain its market share in 2019.

As is the tradition with some major banks and consulting firms, A.T. Kearney has declared in its annual forecast for 2019 that Bitcoin and other cryptocurrencies are now ‘post-crash’ and not dead.

Interestingly Bitcoin celebrated its tenth birthday this year amidst massive losses against its all-time highs that it had reached in December 2017. As per the report, A.T. Kearney believes that the world’s pioneering cryptocurrency will begin its new journey in 2019 by consolidating after the losses made in the crash in 2018.

The report elaborates,

“Bitcoin will lead the consolidation and maturation of the cryptocurrency market.”

Notably, Anthony Pompliano, the Digital Assets co-founder at Morgan Creek, and Tony Vyas, have both said that they foresee Bitcoin falling to the USD 1300 levels. As opposed to many such forecasts made by analysts who have claimed that Bitcoin is yet to finish its decline, the report by A.T. Kearney comes as a welcome surprise.

The lows experienced by Bitcoin in 2018 saw a reversal to reach the level of USD 4230 this week before undergoing another correction. Altcoins have been underlined by even more volatility with cryptocurrencies such as Bitcoin Cash and Ethereum experiencing wild swings.

As per the A.T. Kearney report, 2019 will again be the year of Bitcoin. The report illustrated,

“By the end of 2019, Bitcoin will reclaim nearly two-thirds of the crypto market capitalization as altcoins lose their luster because of growing risk aversion among cryptocurrency investors.”

With Bitcoin network’s hashrate surging again after seeing a downward trend for almost four months now, the predictions made by A.T. Kearney may just be on their way to coming true.