The founder and CEO of ShapeShift: Erik Voorhees has said that undoubtedly crypto is maturing and that doesn’t affected the price trend of Bitcoin and other crypto assets and the industry has seen growth in recent months.
By 82% in past 15 months the valuation of crypto market has jumped from $813 billion to $143 billion and exchanges have observed overall decline in daily volume.
Yet, the industry is positive and waits for the long-term growth of the cryptocurrency industry.
In just 3 months (From January to March) the crypto market has possibly seem more progress in institutionalization than the last 9 years.
The first batch of institutional investors including public U.S pension funds, insurance company and a hospital invested in the crypto market under the guidance of Morgan Creek Digital.
BlockTower Capital co-founder Ari Paul said that Fidelity which has one of the world’s largest asset managers with $2.46 trillion under management and has hundreds of employees who are enthusiastic about cryptocurrency at every executive level.
Due to potential risks and compliance institutional investors do not commit to emerge and under regulated markets.
But, asset managers like Fidelity are proactively building products to improve the liquidity in the cryptocurrency market.
To test the resilience and strength of industry the bear market is an ideal period as it will prove whether it is a fad or it has the power to survive over long run.
Moreover, In March Switzerland’s largest retailer Digitec Galaxus integrated Bitcoin and started accepting the Bitcoin payments and the Japan’s biggest railway operator announced that they are planning to integrate crypto assets as the payment option.
Summing-Up:
The industry executives say that the bear market is crucial for building as it allows companies to step back and evaluate areas of improvement.
If a new wave of retail investors or institutional investors come in crypto market in future which might be possible in fourth quarter of 2019 then the price of crypto assets could reflect but for now it is difficult to expect the price of Bitcoin to move as it did in 2017 but the industry will continue to grow for sure.
Thanks! That was all for you.
What do you think about the future of Crypto will it Slay in Bear Market???Do share your views in Comments and Upvote.
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Source of Images: Pexels.com and Pixabay
Source of Information: ccn.com
drakoscliff
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