Well, lets be really simple in response to our article’s headline with a touch of sarcasm – BUYERS…..lots of them. Yup, that’s what it will take to re-ignite a bull market not only in cryptocurrencies (digital currencies) but in any market. Thinking back almost a year, there were lots of buyers in crypto at $10k+ (bitcoin) and now there are lots of investors sitting on losses (remember, if you don’t sell you never lose, right -lol). So, that invested money is ‘stagnant’. What will spark a new move higher? A bitcoin ETF? New institutional money? A regulatory easing? All of the previous? Or, BUYERS that just happen to wake up one day and say to themselves “I just feel like buying bitcoin today”.
Bill Taylor/ Fintek Capital
“…One factor that could break cryptocurrencies out of their current doldrums is institutional interest, said Nigel Green, founder and CEO of financial consultancy deVere Group.
“We’ve seen – and are continuing to see – that there is an increasing feeling, especially amongst institutions, including financial ones, that they feel that they now need to explore digital currencies – and fast – or their rivals could get way out ahead and they might not be able to catch up,” he stated.
Green emphasized that as more of these institutions get involved, it could trigger Fear Of Missing Out (FOMO), which could help bolster interest in cryptocurrencies.
Should the U.S. Securities and Exchange Commission approve a bitcoin exchange-traded fund (ETF), that decision would serve as a “major catalyst,” stated Oliver Isaacs, blockchain investor, advisor & influencer.
“The approval of a Bitcoin ETF will open the floodgates for new investors to pour billions of dollars into cryptocurrencies with the same ease in which they invest in stocks and all other mainstream asset classes.”
Isaacs emphasized a similar situation with gold, as “The precious metal increased more than 300% in its price in the aftermath of the first ETF approval back in March 2003.”…“