“The stability that we are seeing right now in the cryptocurrency market is setting the stage for more participation by institutional investors in the future,” Panigirtzoglou said, reports CNBC. “The cryptocurrency market was a new market. It went through a bubble phase [and]the burst.”
Bitcoin volatility, which ebbed significantly earlier last year, could continue doing so if the cyrpto’s price’s continue faltering. If more institutions step back into the space, digital assets could rally.
Panigirtzoglou “expects the firms will begin re-entering the space as the importance of blockchain — the digital system that records cryptocurrency transactions — grows,” according to CNBC.
For more information on the cryptocurrency market, visit the Bitcoin category.