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Traders changed Wall Street for cryptocurrencies
In 2018, the number of crypto funds increased threefold and exceeded 140. At the same time, Wall Street is the personnel reserve for creators and analysts - 80% of the largest crypto funds were created by people from this exchanger. Bloomberg even suggested that cryptocurrencies could bury Wall Street.
Cryptocurrency funds offer a yield of up to 100% per annum, they function outside the legal field and leave traders unlimited opportunities for maneuver, up to fraud. No attempt to officially register the fund was successful: SEC rejected Winklevoss Capital and SolidX Bitcoin Trust, the Swiss Crypto Fund also operates without a financial regulator license.
However, the transition of traders from Wall Street to the crypto-industry is a positive signal for the latter: professional financiers are confident in the good prospects of digital assets.
Replies (2)
I agree. When institutional investors will enter the cryptocurrency market, I think we will see a relevant increase in the overall market cap and the crypto market in general will reach new ATH.
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