The Storm is Over
As of Wednesday morning, things are looking healthy in the greater cryptocurrency market. At the time of this writing, Bitcoin is currently holding above the $9000 level, while the majority of altcoins — which all enjoyed significant run-ups over the past couple of weeks — are finally experiencing a much-needed and healthy correction.
So, what’s driving the renewed faith in Bitcoin and its trail of followers? According to experts, there are actually a few reasons.
1. Regulatory Clarity
First and foremost, increased regulatory clarity around the world is helping encourage big-money, institutional investors to get involved in the space. Fran Strajnar, CEO of Brave New Coin, explained to Forbes: > "Bitcoin is trading upwards for a number of reasons. The U.S. is stepping in to regulate security tokens instead of commodity assets (utility) and we are seeing major value investors stepping into buy as a result […] As the Soros’ and the Rockefellers’ of the world move into this ecosystem, this asset class is legitimized and trending in an extremely positive direction."
Earlier this month, Bitcoinist reported that Soros Fund Management’s Adam Fisher has received internal approval to trade digital currencies — which has since sparked Bitcoin’s full-blown recovery.
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Good now the FUD is over BACK ON TRACK TO THE MOON!
Yeah, it's very good thing..
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