Will The History Of Crypto Market Crash Repeat Itself?
20 Nov 2020 — With the recent explosion of #bitcoin price to almost 90% of its peak levels in 2017, will the bubble prove to be sustainable this time around or will the history of #crypto market crash repeat itself?
In a recent tweet, Grayscale Investments reported that its Bitcoin Trust now holds more than 500,000 $BTC, surpassing $8.3 billion in value. Others include a total investment of $425 million in bitcoin from MicroStrategy in Sep and $50 million from Square in Oct.
Even online gamblers are increasingly requesting for the cryptocurrency while cashing out from some poker websites, according to yesterday’s article from Olga Kharif of Bloomberg News.
While investors must beware of its volatility in price and therefore should seek advice from qualified and licensed financial adviser before investing, one thing for certain is that Bitcoin and crypto derivatives are definitely not going away especially since regulators and traditional players have been increasingly showing interest in this space.
Closer to our shores, DBS bank’s plan on its crypto exchange launch and Thai regulator’s revision of its net capital rules which help securities companies provide crypto services are just some exemplifications that are beginning to scratch the surface of its full potential.
You May Also Like
