Saxo Bank has published a quarterly forecast for global markets. The document, in addition to traditional financial markets, also talks about cryptocurrencies. Jacob Pauncey, an analyst at Saxo Bank, does not rule out the possibility of a new bullish cycle, although the regulatory problems and the decisions by Google and Facebook to ban advertising related to ICOs have a negative impact on the market.
Cryptocurrencies fell back to earth with a bang in the first months of this year, having
enjoyed exponential growth in 2017 . The situation remains fragile, given the outlook to
increased regulation and social media advertising bans . That said, we can’t rule out the
possibility of a comeback
If there is a significant decline in equity markets, there will be an inflow of money into unrelated assets, or assets that are beyond the reach of the traditional financial system, and cryptocurrencies are a potential alternative, he added.
Jacob Pouncey joined Saxo for the first time in 2017. He has followed the cryptocurrency and blockchain space since 2013. Jacob focuses on the market analysis. He has a profound knowledge of the technology and the fundamentals that guide the space of Crypto Assets. Jacob tends to focus on medium and long-term indicators for market analysis.
If there is a significant pullback in the equity markets,
there will be an inflow of money into uncorrelated assets,
or assets that lie outside the reach of the traditional
financial system in which cryptocurrencies are a
potential alternative . Historically, many of the blue chip
cryptocurrencies have seen price increases in the face
of global uncertainty and risk-off events such as Brexit,
the election of President Trump, and the North Korean
missile tests .
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