Crypto bull market might return in Q2 2018, Saxo Bank reveals

Friday 20 April 2018 10:09 CET | News

The cryptocurrency market might start growing in Q2 2018, according to Saxo Bank, a Danish investment bank specializing in online trading and investment.

In its latest Quarterly Outlook, the financial institution pondered over the increase of “the blue chip cryptocurrencies” in the face of global uncertainty. Moreover, “the inflow of institutional capital to the cryptocurrency market due to the increase in regulation and investor protection could lead cryptocurrencies to a positive quarter”, CoinTelegraph cited bank’s analysts.

Also, bank’s representatives said that the negative cryptocurrency cycle might come to an end, “and the remaining investors are on the ready to latch onto any good news after the bad start in 2018.”

Saxo Bank is well-known for its price predictions for Bitcoin in particular. In 2016, when Bitcoin was trading between USD 450 and USD 950, analysts forecast prices hitting USD 2,100 the following year, something at the time it included in a list of “outrageous predictions”, according to CoinTelegraph.

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Keywords: cryptocurrency market, crypto, Bitcoin, report, predictions, Saxo Bank
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
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Blockchain & Cryptocurrencies

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