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Cryptocurrency market

Bitcoin is currently a surprise to investors thanks to strong price growth rate this year. Earlier this year, this cryptocurrency was priced at less than USD 3,100 and early July, Bitcoin increased to USD 11,000 for 1 Bitcoin unit.


The surge in Bitcoin prices has attracted the attention of more mainstream investors, and this type of currency has gradually stepped out of the darkness of apprehension.

From the perspective of some experts, the cryptocurrency market has entered the recovery period since the beginning of this year. Concurrrently, mainstream organizations are realizing many advantages of cryptocurrency.

At the end of January 2019, Boerse Stuttgart, the Germany's second largest stock exchange, announced that they had officially launched Bison, a cryptocurrency trading application in which some type of cryptocurrency such as BTC, XRP, ETH and LTC are available.

In March 2019, according to Bloomberg and The New York Times, Facebook is developing a new cryptocurrency (Globalcoin) that can be used for global payments and will be officially introduced in June. At the same time, many Internet organizations and financial institutions such as JP Morgan and Fidelity Investment are also accelerating the arrangement of depository transactions for cryptocurrencies.

Then, in May 2019, Kelly Loeffler, the CEO of Bakkt (a cryptocurrency trading platform developed by the parent company of Intercontinental Exchange), said on his personal blog that Bakkt is “closely cooperating” with the U.S. Commodity Futures Trading Commission (CFTC) to launch Bitcoin futures contract this summer.

Recently, 14 major global banks are involved in developing a cross-border payment system using digital currency (cryptocurrency) based on blockchain platform, including large banks in Japan, the US and Europe such as MUFG Bank, Sumitomo Mitsui Banking Corp, UBS, Credit Suisse, Barclays, State Street ...

All of the above information shows that mainstream organizations are improving the market frame. Obviously, thanks to the maturity of blockchain technology, the value of decentralized digital assets represented by Bitcoin is increasingly recognized. This change has somewhat appeased investors' worries. According to a recent survey by Fidelity Investments, more than 50% of US investors now believe that digital assets may play an important role in their portfolios and 22% of them have invested in cryptocurrency.