Bank GP Bullhound said that bitcoin is waiting for a 90% correction

The price of bitcoin and other crypto currencies in the next 12 months will experience a 90% correction, which will cause "massive devastation in the market," believe in the investment bank GP Bullhound. At the same time, several crypts that survived this process can expect an unprecedented rise.

GP Bullhound director Sebastian Markowski predicts that institutional investors will increasingly interact with the crypto-currency market in their report, "Token fever: Fuel for blockchain", which, however, will not stop the flow of individual investors.

The massive influx of institutional and individual investors will cause a rise in prices, after which the market will encompass panic, followed by imminent collapse, suggests Markowski.

"As soon as crypto winter passes, the dynamics of the growth of several survivors will be unprecedented," he writes.

However, in the details of this process of his readers, Markowski does not devote, nor does he give grounds, why the market will behave this way, and not otherwise.

Despite a certain percentage of negative forecasts, a significant number of analysts expect that the crypto-currencies will grow. So, Fundstrat co-founder Tom Lee expects that by the end of this year the bitcoin rate will reach $ 25,000, while venture capitalist Tim Draper says that by 2022 the bitcoin crypto currency will rise to $ 250,000.

At the same time, the head of GP Bullhound argues that the ICO should not be prepared for the decline of the industry, although investors will be more attentive to the projects in which they invest their money and demand confirmation of the profitability of the enterprises represented on the market.

"It will be impossible to attract money under the cover of white paper," Markovsky said in a conversation with CNBC. "I think that people will want to see the product.The level will rise very rapidly.

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