The ongoing bear market might not be such a bad thing, as it helps the markets become mature enough for institutional money. The market data is provided by the HitBTC exchange.
The current bear market in cryptocurrencies will turn out to be a boon in the long-term. The rally in 2017 had become frothy and attracted mostly retail traders who dreamt of becoming rich overnight.
This was not good for the longevity of the virtual currencies. The institutional investors don’t enter in a ‘bubble-like’ environment.
Now, with most of the froth removed, we get rumors of some big names showing interest in investing in the digital currencies. A name that stands out is that of the legendary investor George Soros.
Bloomberg’s sources confirmed that Adam Fisher, the person in charge of global macroeconomic investing at Soros Fund Management, has received the green signal to proceed with cryptocurrency investing. Another very prominent investor to enter into the crypto world is the Rockefeller family, through their official venture capital arm Venrock. Read more from cointelegraph.com…
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