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Forbes: Big Investors Believe in Crypto Industry

2018-09-19 18:15:25

#Cryptocurrency #Investment #Research
Forbes: Big Investors Believe in Crypto Industry

Despite the significant drop of the cryptocurrency market this year, institutional investors believe that digital currencies are here to stay. Some traditional financial sector managers also believe that adequate regulation will become a stimulus for development and growth of the crypto industry.

In accordance with the recent report by Forbes, the majority of respondents consider that cryptocurrencies will save and strengthen their positions playing important role in future development of the financial sector.

The research data from Greenwich Associates is used as the basis of the report. On September 12, the company issued a report named The Institutionalization of Cryptocurrency, covering the process of large investors calling to the cryptocurrency sector.

According to the report, 72% of institutional investors believe that cryptocurrencies are not going away. Greenwich Associates interviewed 141 institutional market participants across North America, Europe and Asia. Respondents worked at a variety of organizations including asset managers, investment banks, brokers, and hedge funds.

Positive estimation is aligned with latest forecasts and research data. For example, Coinbase CEO Brian Armstrong considers that cryptocurrency circulation will accelerate during the next five years, and the amount of users may reach one billion. Researchers from Qriously reached similar conclusion by questioning students for their use of cryptocurrency.

The alike confidence in the future of cryptocurrencies proves that investors for the most part retain optimism, considering that the market lost approximately 70% in capitalization since the beginning of the year. The forecast will not surprise those who follow the cryptocurrency sector. Experts assume that there are too many tokens on the market, and some of them will fail. Though there is no exact data, in June Fortune wrote that around 1000 coins already disappeared.

Nevertheless, 38% of respondents say that the future legal framework will become the stimulus for development of the cryptocurrency sector.

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