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Goldman Sachs: Many crypto assets will depreciate

The recent drop, which led to a decrease in the capitalization of the $ 500 billion crypto-currency market, is only the beginning, according to the head of the international department of investment analysis of Goldman Sachs Group Inc.’s Stephen Strogin.

Most crypto currency will most likely not exist in the form in which they exist now, and investors should be prepared for the fact that some of the Coins will disappear, giving way to a number of stronger competitors, Stephen Strogin said in his January 5 public report. Despite the fact that he did not specify a clear time frame, he noted that recent price fluctuations point to the development of the bubble scenario, and also suggested that soon the tendency to synchronous fluctuation of a number of coins will be broken, as several winners will seize this market.

“Strong correlation between the courses of different coins disturbs me,” Strogin said. “Because of the lack of domestic value, the currencies that do not stand will probably roll to zero.”

A lot of new coins do not have long-term prospects, due to the long processing of transactions, security problems and the high cost of maintaining networks, says Strogin. The introduction of adjustable bitcoin futures did not solve this problem, he added.

“Will any of the current crypto-currencies be new Amazon or Google, or will they be among those many now-defunct search engines? However, the crisis situation does not mean that several winners will not grow in price, but in this case, for the majority of those who are out of the board, the previous upsurge of the course will remain in the past “, he summed up.

The post Goldman Sachs: Many Crypto Assets will depreciate appeared first on Digital Bodha.

This post first appeared on Cryptocurrency News | Bitcoin Mining Hardware | Dogecoin, please read the originial post: here

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Goldman Sachs: Many crypto assets will depreciate


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