The crypto news from the US has risen sharply in recent weeks. Whether it's a bank, stock exchange, fund manager or regulator - everyone in the financial sector has made a positive or negative statement to Bitcoin & Co.
Although Warren Buffett, Charlie Munger, and Bill Gates are not good at cryptocurrency, the news that was really relevant was clearly positive. Above all, the announcement of the New York Stock Exchange (NYSE) to launch an online exchange for cryptocurrencies has caused quite a stir - rightly so! If the largest securities exchange in the world resolutely turns to the crypto market, then this not only has a huge signal effect, but also has an impact on daily market events.
The greed prevails
Following the launch of Bitcoin futures on the Chicago Mercantile Exchange (CME) late last year, the NYSE's current move once again underscores that the established financial sector wants to jump on the crypto train. The fact that cryptocurrencies are an independent asset class has since spread to the last corner of Wall Street. Too tempting is the prospect of high profits that this new market holds for any investor or service provider. Goldman Sachs has also announced that it will soon offer trading in bitcoin futures. Why not? There is more than enough demand, as indicated by the futures exchanges offering bitcoin futures. The number of traded contracts had even topped last week's all-time highs.
Domino effect
The current stabilization of the crypto market is encouraging many financial service providers, who have basically flirted with the entry into the crypto market, to finally take the step. The logic is simple: in the beginning, there are a few brave players who dare to be involved in the new technology or market environment. If their courage pays off - as is currently the case with those who have dared to do so - then competitors and service providers in the value chain will be uneasy. The fear of missing something and losing potential profits continues to increase and the domino effect is approaching. In a very short time, self-dynamics can emerge that would have been unthinkable until recently.
