Bearish Market Trends will not bury the future of the CryptocurrencyDecember 9, 2018
Despite the recent crash, cryptocurrency is not going away. Jeff Sprecher states that “Digital assets will survive.”
Brad Garlinghouse, the CEO of Ripple has to state that several people from the traditional financial world are taking a long view at digital assets.
Garlinghouse is pretty sure that digital assets are going to survive. He stated that just like stock markets did not shutdown during the stock volatility, the digital assets are as well not going to shut down due to volatility. This is despite the 80% decline of the value of Bitcoin.
Being a popular company in the cryptocurrency world, Ripple is set to provide various services to the financial institutions from across the world. Several investors are Bullish about the future of the digital assets.
Another company that is playing a major role in the cryptocurrency space is the Intercontinental Exchange. The ICE is planning to launch a platform that will particularly provide for institutional investors. This is to fulfill the needs of institutional investors who wanted to enter the crypto market, but were not able to do so.
BAkkt is also set to enter the market to permit the traditional investors to enter into the market. The ICE is as well positive about the future of the cryptocurrency. Companies will thus be facilitated with inexpensive cross-border transactions.
There has been a recovery of the market in the past 24 hours. This is a marginal recovery from $106 billion to $111 billion. Despite this recovery, ETH and Bitcoin are continuing to plunge. Both of them are recording a 3% drop versus the USD.
The unforeseen recovery and short-term momentum is indicative of the market sentiment and the hope that the investors have on the cryptocurrency. Technical indicators have to express that the current scenario is filled with overselling. It is going to be difficult for the two cryptos to recover or maintain a stable price range.
There is a lack of dApps adoption which is one of the primary services offered by ETH. ETH will be focusing on developing dApps that can be efficiently used in the ecosystem.
In a constrained environment, better decisions will be made. And, leaner projects are easy to execute and streamline. When scarcity happens, the senses are sharpened, and there is clear discrimination in decision making. Therefore, analysts just like Brad Garlinghouse are sure that these digital assets are going to survive the trend.