The volatile nature of the crypto market is no more news, as the prices of Bitcoin and other altcoins increases and decreases at will. The past 12 months have seen Bitcoin grow from $5000 to over $19,000 before falling again.
A Volatile Market
Regulators and other decision makers have been holding back on some critical decisions that can help shape the industry; this is no thanks to the unstable and volatile nature of Bitcoins and the crypto market in general.
One of those decisions is the approval of the Bitcoin Exchange Traded Fund (ETF) that has been on the table of the U.S. Security and Exchange Commissions for quite a while now. The regulatory agency has been sticking to its guns, but may finally approve it, now that Bitcoin seems stable at $7,000.
Upon approval, the Exchange Traded Fund will go a long way in helping the crypto market in no small measure. It will allow big-time investors come into the industry and pump in money, which will expand the market and enable more people to join the growing crypto industry Network.
Bitcoin Stability In Sight
Analysts and observers have noticed the stability in the price of Bitcoin and other altcoins for quite a while now, this they say is mostly influenced by major players in the traditional industry, who have indicated their interest in investing in the crypto market.
Words emanating from Wall Street indicates that major players like Goldman Sachs and the International Currency Exchange (ICE) have shown their readiness to start offering cryptocurrencies to their numerous clients all over the world.
Apart from the two Wall Street giants, other players like money managers and hedge funds have also signalled their readiness to jump at any opportunity presented to them by the crypto market.
Although, some market analysts have made their opinion known on the current state of Bitcoin. Some are of the opinion that the current stability of the cryptocurrency should not be seen as a permanent thing and that the price can fall at Anytime soon due it’s Volatile Nature.
But some optimist has reiterated their earlier stance, maintaining that the influx of more investors in the crypto space can help the ecosystem. They are thus of the opinion that, if more money is injected into the system, it can go a long way to keep the prices stable for the foreseeable future.