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Cryptocurrencies - Asset Class

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I think Cryptocurrencies as an Asset Class has not only arrived but it is here to stay. My belief is that it is not going anywhere.

What I find quite remarkable though I have no data or evidence to support this assumption at this moment is as follows:

At a time when capital is leaving equities as shown by the price performance of indices around the world, Cryptocurrencies, begin rallying with double digit returns per day. An assumptive thought is that some of the capital (albeit small) is relocating itself to Cryptocurrencies. This is only an assumption which would need to be proven by evidence of 'hard data' showing this. 

Stablecoins, Digital Currencies, Cryptocurrencies and Tokens are all operating in this Crypto Universe and all have a different purpose within the Crypto Eco-System. 

I look forward to seeing how this asset class develops, changes, improves and performs in 2019. 

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Right now I have think the trends on the Cryptocurrencies that IG offer on its platform are downwards. There still remains a strong downward bias and the recent rally has not changed my view on that.

I think what we have just witnessed is most likely a 'short covering rally'. I think we will continue to see downwards pressure and movement with the odd rally here and there. I think there will be another major leg downwards and I see Bitcoin hitting between $1k to $2k and this should be in my opinion the bottom of this huge retracement from the high. This move will 'weed out the rubbish' and then we should see the asset class really improve and kick on going forwards. 

I think this was necessary as there were too many companies built on 'hype' and 'thin air' set up and these needed to be removed from the eco-system.

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Guest James Zicrov

Cryptocurrenices definitely have an edge over other forms of currencies but not everyone is fortunate and intelligent enough to understand insights about it and gain profits by transacting with it.

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