Cryptocurrency has been a largely unknown market for a number of years now. Back in 2017 the sharp rise in the price of coins like Bitcoin attracted some attention of course, but the subsequent crash made a lot of people ignore this possible investment. Over the course of he last 6 months however we have seen a huge change in this regard and more and more people are now getting involved in cryptocurrency.
This has not only been private citizens, but also huge corporations who are looking at unlocking the power of crypto for their business. Experts like Robert Testagrossa have been in this game for a number of years, and even they are surprised by the sheer volume of new money which is coming into the market. Here is exactly why we are seeing such a rise in those looking to invest in crypto.
The Bull Run
There is little doubt about the fact that from December last year through to at least this month, the crypto market has been in a bull run. This has forced so many prices to go through the roof, both for alt coins and for the main coins like Bitcoin and Ethereum. As these prices began to rise, more and more people decided to jump on the train to see if they could get a slice of the pie.
The truth is that cryptocurrency is very much a threat to money, and that is something which is not going to change at all. The reactions therefore of those who have been involved in the financial services sector, is one of rejection. What we are currently seeing however completely changes the trend on this because those financial institutions are actually coming on board with crypto. We have seen the oldest bank in New York offer crypto holdings to their clients, we have seen companies like JP Morgan back crypto and this has instilled a lot of faith in the market. The result of these companies getting on board is that more people feel happier to open up some of their portfolio for crypt investment.
Knowledge and Education
There is so much more information about this market around now than there ever has been, and that too has contributed towards more people investing in crypto. Back in 2017 there was some level of information which could be found but you really had to look hard for it. These days however there are forums and online tutorials that teach all about what crypto is and what it means for an investor. There is no doubt that this level of information is one of the main reasons why people have more faith in investing in crypto coins and why they are looking at making their profits in this way.
The world is very much changing towards a digital currency and those who are involved now, are certainly pioneers of this market and the future which it presents.