At press time, bitcoin is still standing at the $7,600 mark. For the last two days, bitcoin hasn’t moved, and has been trapped in the red over news of a Coinrail hack and subpoenas issued by the Commodity Futures Trading Commission (CFTC) regarding bitcoin futures trading data.
But is all this negativity short-lived? While it’s difficult to determine if bitcoin will incur immediate price boosts, bullish sentiment seems to remain strong in the long-term. Forbes, for example, explains that as more time goes by, larger companies will continue to empower bitcoin with newfound investments, further driving the institutional presence in the cryptocurrency space.
Recently, the Intercontinental Exchange (ICE) – parent company of the New York Stock Exchange – announced that it was working on an online platform to buy cryptocurrency, and NASDAQ has entered a partnership with New York’s Gemini Exchange, founded by the Winklevoss Twins of The Social Network fame. NASDAQ executives claim they are looking to launch a futures market for cryptocurrencies. Both platforms will thus join CME Group and CBOE Global Markets, which began issuing cryptocurrency futures contracts earlier this year.
In addition, figures like Tim Draper continue to “talk the big talk” when it comes
Categories: Crypto Currency Portal