At least 56 financial firms will begin Cryptocurrency Trading by October 2018, Reuters Survey

#Bitcoin | #CryptocurrencyTrading

Cryptocurrency may be facing one of its hardest time, but at least 20% of financial firms will get involved in buying and selling of bitcoin and other digital money before the end of 2018, latest survey says.

Quartz reports Monday, April 23 that a range of over 400 undisclosed businesses surveyed by Thomson Reuters, one in every five “have plans” to begin direct contact with cryptocurrency assets in the next 12 months.

The firms involved haven’t been categorically mentioned by Reuters, but it’s known that some financial institutions’ body language is tilting towards digital coins.

YES to cryptocurrency

According to the survey, it’s gathered that 70% of those who said ‘yes’ to crypto in 2018 also said they were planning to begin within the next three to six months, translating into at least 56 new players offering cryptocurrency in some form by October.

Ever since bitcoin skyrocketed in value in 2017, crypto enthusiasms have increased, making citizens across the globe asking, “How can I get involved.”

It plummeted as 2017 wind down, and hasn’t neared $19k ever since entering 2018.

That culminated into some defective ads on Facebook, and other major players in the advertisement arena.

And the largest social media announced banning crypto ads, google followed, then twitter, but some crypto ads still continue to show on Google AdWords.

Ban and several harsh laws against cryptocurrency has not really changed perception of its enthusiasts.

At the time of compiling this post, bitcoin crossed $9k Tuesday.

Current price estimates range from $25,000 to $100,000 by year end for Bitcoin, with traditional finance money jumping in after waiting ‘on the sidelines’ remaining a common narrative.

On Monday, Pfeffer Capital partner John Pfeffer announced he thought Bitcoin could eventually rise to $700,000.

There have been several predictions in favour of bitcoin, whose price influence the marketability of other coins in the cryptocurrency market.

What’s your prediction for bitcoin before end of 2018? Share your thoughts with us.

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