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Efforts to lure Wall Street investors into the world of Bitcoin and cryptocurrency are beginning to bear fruit, and major technology centers are taking note.
A new Wired article highlights the birth of Fidelity's Bitcoin Daycare service and the upcoming launch of physically regulated Bakkt Bitcoin futures, as two signs that "serious money" is starting to hit the market.
The piece also notes the relatively small size of the cryptography market compared to traditional assets.
"Is crypto the next major step in institutional investing, or is it a battle for nonsense? For the moment, the cryptographic guard still involves a relatively small money pool. Coinbase benefited from a boost earlier this month when Grayscale Investments transferred Xapo's $ 2.7 billion worth of cryptographic funds to Coinbase, more than doubling assets under management. the society. It's tiny compared to trillions of dollars under management of a company like Fidelity …
Yet companies like Coinbase and Fidelity believe there is room for growth. In May, Fidelity released a survey of more than 400 institutional investors, according to which 22% already had the cryptocurrency held, and another quarter had the potential to do so. "
At present, Bitcoin is up 3.65% to $ 10,711 according to COIN360. Ethereum is up 2.64% to $ 200.87, XRP down 2.88% to $ 0.2791 and Litecoin is down 0.11% to $ 76.76.
Despite the slight rise, Omkar Godbole, an analyst at CoinDesk, said Bitcoin was still on the verge of dropping to $ 9,000 in the near term.
"The weekly chart still calls for a bigger pullback, at $ 9,000, with the leading moving averages (MA) generating a first bearish crossover since February. A weekly close of more than $ 12,000 is required for a full bullish recovery. "
Here is an overview of the latest cryptosphere analyzes.
Bitcoin
CoinDesk – Bitcoin shows a positive reaction to news about Bakkt
Bitcoinist – The rise of the corner could lead Bitcoin to $ 8,800
Ethereum
Crypto Briefing – Ethereum pushing to regain bullish momentum, meets resistance at $ 200
NewsBTC – Resistance at $ 202 should cap the rise
XRP
FXStreet – XRP looks bullish and now needs to break $ 0.3000
CryptoPotato – If the bulls can break $ 0.3000, the next resistance line is $ 0.3177
litecoin
CryptoGlobe – LTC is still looking for a fund after a significant correction
Bitcoin Cash, EOS, Tron, Cardano
FXStreet – Key level of Fibonacci could disrupt BCH's progress
NewsBTC – Approaching Cryptography Market Resistance: BCH, EOS, TRX, ADA Analyzes
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