With many on the outside looking in and declaring that crypto was a bubble. It seems that they may have been correct, given the spectacular falls since the turn of 2018.
Many were caught out with the “fear of missing out” when Bitcoin was flying, and tons of other altcoins were hitting phenomenal highs.
It doesn’t bear thinking about the amount of money that unsuspecting investors lost when the market crumbled in front of their eyes.
But all may not be lost.
According to a report today on cointelegraph it’s just a matter of time before institutional money flows into the crypto markets.
As they state in the article so far it’s Asian money that is heavily invested from institutions in crypto. Not so much is invested from the United States and Western nations.
Bill Barhydt CEO of Abra commented, “I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity,”
This is probably true.
News also came last week that George Soros and his funds are now gearing up to begin investing in crypto.
This is a huge turnaround from the negative comments that were being emitted from those types back in December when Bitcoin hit $20000.
Maybe they wanted the crash to happen so they didn’t miss a good entry point?
I’m sure the conspiracy theorists will speculate that is the true reason!