The Cryptocurrency Markets Receive An Injection Of Almost $15bn In Two Days
By Tyler Smith – Cryptocurrency Broker
The cryptocurrency markets have seen a sizeable amount of investment recently from the 17th February to the 19th as almost $15bn has entered this burgeoning market. This is an increase from $120bn to almost $135bn of 12.5% suggesting an appetite for crypto buying. Though the markets have increased, Bitcoin has only an 8.22% increase in this same period, suggesting more willingness to buy altcoins.
Throughout 2019, most of the major cryptocurrencies have gained momentum despite the markets currently sitting at a decline of 85% from the all-time high. Bitcoin rallied from around $3,650 to around $3,950 in this 2-day period but has struggled since breaking past $4,000 temporarily. The daily trading volumes for Bitcoin also increased from an average of $6bn to almost $10bn in the same period meaning more are buying and selling Bitcoin.
The cryptocurrency markets have gained positive momentum and interest so far during 2019 furthering their legitimacy. Big financial institutions have started to build infrastructure to support the assets. JP Morgan are reportedly developing a cryptocurrency called the JPM coin for international settlement and potential use in securities transactions. Regular users won’t benefit from buying crypto with this coin as the Blockchain is to be private. Fidelity investments and NASDAQ are other financial institutions building on the industry as fidelity are to introduce their Bitcoin custody services and NASDAQ to release indices tracking the assets.
Technology companies are also getting involved in the space and building infrastructure. Samsung are developing a blockchain-enabled S10 phone and a new comer to the smartphone market, Sirin Labs with the blockchain-enabled Finney phone. Both able to buy crypto and subsequently store on the device.
With so much development unfolding in the crypto industry we are sure to see more incentive to buy crypto UK for further adoption. Don’t miss out if you are looking to buy BTC by heading over to our platform!