Bitcoin fever could return to Wall Street.
The J.P. Morgan analyst behind a report that found major firms are losing interest in cryptocurrencies isn't ruling out renewed interest.
Nikolaos Panigirtzoglou wrote on December 15 that participation by financial institutions in bitcoin trading was fading. On Tuesday, he said on CNBC's "Futures Now" that the situation is likely temporary.
"The stability that we are seeing right now in the cryptocurrency market is setting the stage for more participation by institutional investors in the future," he said. "The cryptocurrency market was a new market. It went through a bubble phase [and] the burst."
He expects the firms will begin re-entering the space as the importance of blockchain — the digital system that records cryptocurrency transactions — grows. Please Keep Reading Here
first the dump (or in this case bearish comments). then buy. now the pump. Institutional investing 101.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit