2018 has been a crazy year for Bitcoin and crypto so far, with its price fluctuating wildly around the psychological price point of $8,000, and not succeeding in maintaining itself on its higher side. Bitcoin has shed as much as 70% from it’s all-time high of nearly $20,000.
Industry experts claim that the market is correcting itself, and the reason for it can be attributed to the regulatory uncertainty that still persists with regards to cryptocurrencies. Various countries have taken a stand in favour of or against cryptocurrencies, and many of them are still in the process of evaluating cryptocurrencies before declaring their verdict. However, with news of companies like Goldman Sachs considering launching cryptocurrency custody services, and exchanges like Coinbase adding new cryptocurrencies to their custodial services, the ongoing trends point towards the the increasing interest of institutional investors in crypto assets.
Here are 5 reasons why cryptocurrencies are going to be the next big thing for institutional investors.
Enhancement of custodial services
US SEC’s stance on crypto assets
Regulated crypto ETFs on the cards
Past performance of cryptocurrencies
Favourable cryptocurrency regulations emerging globally