Fred Wilson, the co-founder of Union Square Ventures, an NYC-based venture capital firm with investments in notable internet companies including Twitter and Tumblr, has published his 2019 outlook report.
In his annual address, Wilson wastes no time diving into the current U.S. political landscape, boldly predicting that President Trump will be impeached before the end of 2019.
“I believe that we will have a different President of the United States by the end of 2019. The catalyst for this change will be a devastating report issued by Robert Mueller that outlines a history of illegal activities by our President going back decades, including in his campaign for President,” Wilson says.
As far as timelines, Wilson believes the Mueller report will drop sometime in late winter or early spring, and the impeachment vote will reach the House before the summer with a trial in the Senate sometime in the second half of the year.
In what could be seen as an even hotter take, Wilson believes that the cryptocurrency market will bottom in 2019.
“I think we are in the process of finding the bottom on the large, liquid, and lasting crypto-tokens. But I think that process could take much of 2019 to play out,” Wilson says. “I expect we will see some bullish runs, followed by selling pressures taking us back to retest the lows. I think this bottoming out process will end sometime in 2019 and we will slowly enter a new bullish phase in crypto.”
Wilson’s Union Square Venture has previously invested in numerous cryptocurrency startups and he anticipates that these startups will begin shipping their products in 2019, including the Filecoin project from Protocol Labs, and the Algorand project from Algorand.
In conclusion, Wilson thinks 2019 will be a “doozy.” In addition to Trump and crypto, he sees a bear market for stocks as the economy weakens and a number of issues with the global economy come to a head, including a messy Brexit and a sluggish China.
Ultimately, Wilson believes this economic climate will culminate into a more cautious investment landscape, especially among startup investors.
More: Fred Wilson’s Blog
Photo: JD Lasica / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.