Date: March 18th, 2018 11:35 AM
Author: aphrodisiac locus
on a fundamental level, institutional investors are not in the space yet.
JPMorgan (Jan): If past returns, volatilities, and correlations persist, cryptocurrencies could potentially have a role in diversifying one’s global bond and equity portfolio.
Blackrock (Feb): Our bottom line: We see cryptocurrencies potentially becoming more widely used in the future as the markets mature.
one important aspect holding them back is the lack of custodial services. institutions need a custodian to hold the bitcoin, and no one offers that service yet. In November 2017, coinbase announced Coinbase Custody—a digital currency custodian for institutions. And it’s getting closer to being released. Coinbase just (March 8) hired Eric Scro, the former head of finance at the New York Stock Exchange. And one of his chief roles is to help serve institutional clients and promote new product offerings like Coinbase Custody.
On a technical level, double bottoms (to 6k on BTC) are much more common than single bottoms, so we will likely see a bounce at that point. on the daily chart, the two green days in the past week actually had higher volume than the red days. there are fewer sellers that have btc left to sell.
now, all of this applies to btc, but as we have seen crypto as an asset class is extremely highly correlated with other cryptos. when btc climbs back up, so will eth.
don't off yourself until jan 2019, brother.
0x7E39B85dD0D05c3142bbbD38469511C527aF85cA
(http://www.autoadmit.com/thread.php?thread_id=3921958&forum_id=7#35630915)