What To Make Of Bitcoin’s Price Stability
Alex Newman | Oct 19, 2018 04:09PM ET
Bitcoin has long enjoyed plenty of time in the media spotlight, owing largely to the wonderous gains the cryptocurrency once enjoyed when it enthralled the world with its status as a digital trailblazer. These days, however, Bitcoin is in the limelight more because of its stability than its volatility, with many investors and financial institutions beginning to look at the world’s leading cryptocurrency with renewed interest in its potential.
What should we make of Bitcoin’s recent price stability, and how are major actors responding to it in the market? Here’s a comprehensive breakdown of why Bitcoin is enjoying some new legitimacy and stability in the market, and what needs to happen for things to stay this way.
h5 Investors are finally taking Bitcoin seriously/h5
For many years, Bitcoin found itself grappling with a peculiar conundrum; the world’s most popular cryptocurrency was a roaring success for some time, enjoying lavish praise and media coverage while seemingly everyone everywhere got behind it. Hounded by ceaseless volatility, however, Bitcoin was never really taken seriously by major investors, kept afloat instead by the rabid support of its fanbase around the globe. These days, though, investors are finally beginning to treat Bitcoin with some respect, and we’re even starting to see large financial institutions begin to dabble with cryptocurrencies in the pursuit of profits.
Cryptocurrencies are set to slowly but steadily rising despite the still scandalous reputation of cryptocurrencies in the market.
With hedge funds, major banks, and private investors around the world all enraptured by Bitcoin fever, it should be of little surprise that the world’s most popular cryptocurrency is enjoying a heyday of stability right now. Cryptocurrencies have been infamously volatile thus far, but they’re just as recent an innovation as they are an impressive one, meaning many popular tokens like Bitcoin are still in their infancy. As they mature and get their sea legs in the market, more diverse groups of investors will continue to flock towards them, enamored with some promise of profit. Don’t give much attention to the claims that Bitcoin has a one foot in the grave; the world’s leading cryptocurrency is finally beginning to level out, enjoying its newfound stability despite grim predictions about its future. With banks, hedge funds, and investors all unified behind cryptocurrencies like Bitcoin, they’re only set to grow more stable and predictable in the near-future, too. As central banks in particular rush to embrace the crypto-market, expect Bitcoin to further flourish. Digital currencies are an exciting and unpredictable innovation in the market, but have thus far been solidly trending towards stabilization in a manner unlikely to change sometime soon.
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