Bitcoin Price Due For 90% Price Correction In Mass Crypto Wipeout, Warns Investment Bank

The price of bitcoin and other cryptocurrencies will suffer a 90 percent correction that will cause a “mass market wipeout” within the next 12 months, says investment bank GP Bullhound. While the market correction will decimate many virtual currencies, the few survivors are in for an unprecedented rally, GP Bullhound predicts, as reported by CNBC. “Once this ‘crypto-winter’ passes, the growth dynamics for the precious few survivors will be unprecedented,” Sebastian Markowsky wrote in his report, “Token Frenzy: The Fuel of the Blockchain.” Markowsky is a director at GP Bullhound and lead author of the report. Institutional Investors Will Cause Price Spike In his report, Markowsky also predicts that institutional investors will start moving into the cryptocurrency market while more retail investors will also plunge in. As CCN previously reported, the Rockefeller family is so confident about the future of crypto that it’s making long-term investments in blockchain and cryptocurrency…

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