However, the recent move below $10,000 could be a sign that declines could be ahead.
“Since Bitcoin has not definitively surpassed the $10,000 psychological barrier, we believe investors have adopted a wait and watch approach, as a breakdown below $10,000 can see the price plummet swiftly,” added DiPasquale.
If the price regains its footing within the $10,000 range again, it could bring more interest in the form of crypto funds. Investors who are hesitant to jump into cryptoassets may see the lower price volatility as a more favorable option to equities.
Per a report in Coin Telegraph, “interest in crypto funds is on the rise, according to one startup that enables users to create their own funds or follow those that have been established by others. Tokenbox says blockchain technology and smart contracts make sense for those who either want to invest in cryptocurrencies or tokenized versions of real-world assets, such as precious metals. Decentralization could pave the way for all parties to enjoy greater transparency and lower costs, while substantially simplifying record keeping and reducing the risk of falsification.”
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