In the article Bitcoin holds steady above $7,000 as 2 Wall Street legends reportedly eye the crypto market by Frank Chaparro it talks about the price fluctuations of Bitcoin and how it is now up 2.1%. More importantly the article talks about how two of the big Wall Street investment firms are going to get their hands in crypto-curreny. This being Soros Fund Management and Venrock. This is said to be encouraging for crypto-currency because firms with good historical track records are now getting behind it.
http://www.businessinsider.com/soros-fund-venrock-embracing-bitcoin-2018-4
2 comments:
Certainly increased interest in cryptocurrencies from major reputable firms will improve consumer sentiment and likely increase trade volume in crypto over the coming months.
After the last time bitcoin plunged it rapidly decreased investor confidence, I wonder how it will rise with these reputable firms behind it and what risk assessment they did before investing as bitcoin is notoriously famous for major fluctuations. Hopefully this time it will increase to a viable value that doesn't plummet.
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