Cryptocurrencies are gaining momentum in 2018 as evidenced that 1 in 5 financial firms plan to start trading.
One in five financial firms, ranging from hedge funds to the biggest banks, are considering trading digital currency in the next three to 12 months, according to a new Thomson Reuters survey published this week.
Of those that showed interest, about 70 percent said they were planning to trade in the next three to six months.
The news is a sign of improving sentiment and should be "very positive" for bitcoin prices, Brian Kelly, founder and CEO of BKCM, says.
Hi sensicat,
On the surface, all looks rosy that the big financial institutions are jumping on the ban wagon trying to make money in the cryptos market.
This supposed to help the critics or skeptics of cryptocurries to feel safter in investing since the major financial companies are leading the way
There has to be negative out come to, what could it be?
The market keeps growing, we are still early my friends
Here comes the storm!
thanks for your informative post..
@upvoted & @resteemed
thanks for your informative post..
@upvoted & @resteemed
If you have a conscience, you will get back to the upvote that you will get
Nice post
Thanks for the info
They are just beginning to realise that which we discovered a while ago. Blockchain technology when coupled with a currency and am amazing community has the powr to shape and change the world.
True that all these companies see is profit, but they are missing the main point...Change in the world just by engaging, interacting and engaging.
We already know that we are destined to evolve and grow and have a profound effect on the world about us.
Support your blockchain and it will support you in the future!
But yes it is very true that a little better understanding could go a long way to sending crypto prices to the moon and far, far beyond.
BUT...
Do we want the same people who crash real-world markets on a whim and create pump and dumps that only serve to dump profits in their pockets getting involved in our amazing blockchain? It's a toughie with plenty of pros and cons, like all good quandaries!
This news is both exciting and concerning at the same time. It's exciting that crypto is becoming more mainstream and more widely adopted. It's concerning because when large institutions get involved in financial markets many things can change and the changes are not always the best in the long term. Only time will tell how this will impact everything, I guess. Great post!
Ivy
I like your point of view @socent it could possibly turn with lots of silly regulations here and there and lots of ways to get us taxed
I'm hoping that government officials will work towards understanding crypto better and will realize that this needs to be treated as a currency and change the tax regulations that are currently in place, at least in the US. Maybe that is naive thinking but I can be hopeful, right? Thanks for the response!
Ivy
I hope so too Ivy, but knowing these governments they will choose to ignore the importance of cryptocurrencies and stick to the traditional way of printing fiat. They like to be in control crypto isn't giving them such power so they feel threaten. Thanks for your opinion Ivy
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