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Three Reasons to be a Cryptocurrency Bull Now

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cryptocurrency bull

Things may not appear all that great for a cryptocurrency bull at moment.

Former high-fliers now appear to be nothing more than duds, like Ethereum and XRP.

But don’t let that scare you away from the market.

There are reasons to be a bull, long-term

For one, it’s essential to know that cryptocurrencies in its infancy. Volatility and even price crashes are to be expected in new markets. This is particularly true after such a massive price move.  And as we all know, nothing ever moves up in a straight line.

In short, it pays to be a bull as institutional interest picks up steam

BitGo just received a state trust company charter from the South Dakota Division of Banking.  This makes the company a qualified custodian for cryptocurrency.

Coinbase, Gemini, Goldman Sachs, and Northern Trust are also exploring custodial services.

Earlier this year, Nomura created a custody consortium called Komainu. Bloomberg also notes that Bank of New York Mellon Corporation, and JP Morgan Chase are working on cryptocustody services or exploring it, too.

Yahoo Offers Trading

Cryptocurrency is another step closer adoption, as Yahoo makes Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) tradable.  Although Yahoo provides information on other cryptocurrencies also, currently it only displays buys and sells for these three.  

Ethereum Futures Launching

The CBOE plans to start trading futures on the crypto contracts by the end of 2018.

CBOE will reportedly base its ETH futures on Gemini’s market.  The fact the CBOE is expanding futures offerings to include cryptocurrency says it’s here to stay.

CBOE launched Bitcoin futures trading towards the end of 2017 to allow traders to speculate the price of Bitcoin without owning BTC. The futures trading is said to have contributed massively to reducing the volatility of Bitcoin since December 2017. Futures trading involve buying a specific asset and then selling it at a future date at a specified price.

 

 

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