The head of the cryptocurrency company Abra bill Barhydt (Bill Barhydt) believes that the advent of the cryptocurrency market of large Western institutional investors will mark a new digital boom, which will begin this year.
«My relationship with hedge funds, big capital and even speculators allows me to conclude that they are watching the volatility of the cryptocurrency in the first place see this as a huge potential. Only they will be on the market, we are waiting for the next wave of an unprecedented boom», — predicts Barhydt.
The growing interest in the cryptocurrency market institutional investors is particularly noticeable in Japan, which currently sets the trend in this direction. Similar interest is a kind of indicator of future events in the West, despite the fact that the number of retail investors in recent years significantly decreased.
«At the moment, large-scale institutional funding comes primarily from Japan. As soon as the market will be major Western investments need to be alert,» warns the head of the Abra.
Barhydt believes that institutional investments in bitcoin or ether will create a good demonstration effect for the stock market.
«I think it will happen this year,» he said.