The crypto community was shocked to see the market plunging the way it did just recently after BTC fell pretty hard during the past week.
But, by the look of things now, Bitcoin seems to be on the right path to recovery as it was able to surge.
At the moment, BTC is trading in the green, and it’s priced at $4,294.10 according to data provided by CoinMarketCap.
Holders and investors are beginning to regain hope after the hard times that we’ve been all faced with recently.
Institutional interest in crypto is surging
It was recently reported that NASDAQ stock exchange and investment management company VanEck teamed up in order to bring a host of new crypto financial products to the market. This highly important partnership was revealed during CoinDesk’s Consensus: Invest Conference.
Gabor Gurbacs, VanEck’s director of digital asset strategy, unveiled the move to “bring a regulated crypto 2.0 futures-type contract” to the market.
@Nasdaq and VanEck’s @MVISIndices announces #index #partnership and intention to bring to market transparent, regulated and surveilled #DigitalAssets products, such as #Bitcoin futures contracts. More info to come. Share & follow us. #crypto #futures #SMARTS #ConsensusInvest pic.twitter.com/Q2oCZx4pp1
— Gabor Gurbacs (@gaborgurbacs) November 27, 2018
“What I’d like to point out is we ran a few extra miles working with the [Commodity Futures Trading Commission] to bring about new standards for custody and surveillance,” Gurbacs commented during a panel.
According to Gurbacs, the next year will be a pretty interesting one with a lot of achievements in the crypto space. He said that 2018 was the year of regulation and 2019 will definitely be the year of implementation.
Maybe the institutional interest in crypto which has been recently surging despite the prices on the market is leading to upcoming bulls; we’ll just have to wait and see.
Google searches for the term Bitcoin hit the highest level
Bitcoin searches in the past days made up 17 percent of its all-time-high weekly search volume set from December 17-23, 2017. Back then, Bitcoin was priced around $20,000.