Kryptering recovered slightly after another fall last week which Bitcoin and most altcoins have updated their annual lows. Despite the fact that the current pricing behavior by some investors is considered as the long-awaited capitulation of the bears, there are those, according to which until the end of the downtrend is still far.
Last Friday, the Bitcoin has breached a new annual low at slightly below 3.3 thousand dollars in the aggregate market index. However, over the weekend, the coin managed to fight back up to 3650 dollars and since then it is trading in the range of 3.4 to 3.6 thousand. NewsBTC also points out that the fluctuations of Bitcoin also had a negative impact on all altonah, many of which lost more than 90 percent.
The head of the trade division of the Asia Pacific exchange Oanda Stephen Innes skeptical about the current state of the markets. He told MarketWatch that the conservation of the bear market contributes to the lack of real use cases of Bitcoin.
Bitcoin ridiculousness surpassed even the Tulip mania. For cryptocurrency, it was a disastrous year, but all the signs a bear market may worsen without any fundamental and obvious reason
Despite such pessimism, in fact, Bitcoin is gaining acceptance. Institutions start to consider it as a powerful asset. Recently, the head of the research Department in the Fund Bitwise Matt Hogan saidthat the market entry of large institutional players – ICE, Fidelity and universities of Yale and Stanford – will provoke the interest of investors, then adjustable cryptocurrency investment funds.
Although some analysts are negative about the future of Bitcoin, its growing rate of adoption as asset and currency signals a fairly bright future. More data look at cryptodata.
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