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Goldman Sachs: Most of the Crypto-currency will never reach the recent peaks

Can the market Crypto Currency recover from the last correction and return to the peaks of the end of last year? Goldman Sachs believes that no.

In a  report published this week, Steve Strogin, the head of investment research at Goldman Sachs, wrote that it is unlikely that in the future the courses of Crypto-currency will grow in unison, as it was during the last take-off of the market.

In his opinion, the crypto-currencies, lacking competitive advantages, are doomed to failure in the future, and the capitals will increasingly concentrate in those assets that represent the greatest investment attractiveness.

“The high correlation between different crypto-currencies bothers me,” writes Strogin. “Having no intrinsic value, the crypto currency can not survive and is likely to fall to zero.”
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Strogin emphasizes that several existing crypto currencies will survive the collapse of the market and become the equivalent of Amazon and Google in the world of digital assets. At the same time, most crypto currencies will never reach the recent peaks.

“Will there be any existing Amazon or Google crypto currency today, or will they end as a lot of non-functioning search engines? The fact that we are inside a speculative bubble does not mean that several survivors will not be able to grow again, “writes Strogin. “At the same time, it probably means that most, if not all of them, will never reach recent peaks.”

Thus, Strogin suggests that the crypto currency bubble is experiencing an end these days, and investors are beginning to evaluate them according to individual qualities, rather than as a single asset class, as was the case at the previous stage, when even frankly weak crypto-currencies grew.

In any case, Strogin is not the only one who adheres to similar views on the future of this market. So, the founder of Digital Currency Group (DCG) Barry Silbert said at Wednesday’s Yahoo Finance summit that most of the crypto currency will go in one of two ways: they will either rise very high in price or completely lose it. That’s why, explained Silbert, the portfolio company DCG Grayscale Investments launched a new fund , which included only the 5 most promising high-capitalization crypts, intending to make quarterly changes to it, so that it better matched the current alignment of forces in the market.

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The post Goldman Sachs: Most of the Crypto-currency will never reach the recent peaks 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: Most of the Crypto-currency will never reach the recent peaks


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