Bitcoin Is Now Officially In Its Longest Bear Market, CoinDesk reports (their caps; not mine). 411 days of “lower price highs”, they’re calling it. Meantime, Galaxy Digital’s Michael Novogratz & BlockTower’s Ari Paul both emphatically maintained institutional players would eventually make their way onto the scene. Both lamented how long it was taking. Mr. Paul threw out a 3Q19 guess while Novo was less specific. These men don’t have crystal balls – but they do have clients, connections & contacts. If they say institutional players are arriving in due course, I’m taking them at their word.
Please do your own research; this is not financial advice.
Regulations & custodianship are the twin bogeys reportedly keeping big dollars at bay. Throw in compliance, too. Big players entering the fray isn’t a guarantee of anything price-wise, bear in mind. The only certainty in markets is mind-numbing unpredictability. Yet validation is missing as too many skinned knees have damaged the reputation of an industry still in early adolescence.
Growing up ain’t easy – look at Peter Pan. But digital assets can’t remain living in the basement forever like “Meathead” (from Archie Bunker) indefinitely. Rise & shine.
Come on Q, get out of bed: the grown-ups are at the doorstep waiting to barge in.