The cryptocurrency markets have definitely been shaken up a bit in the last few days and months. While the broader market has declined some in value, Bitcoin has continued to hold its own and remained the king of the hill when it comes to cryptocurrencies. In fact, it currently makes up nearly half of all cryptocurrency trades and holdings. Bitcoin has had the luxury of being the first cryptocurrency that really took off in value and captured the public's attention. The currency cost as little as six cents per Bitcoin at one point in time, but it has since skyrocketed to incredible heights. In fact, it had hit a point of being worth nearly twenty-thousand per coin at one point late last year. It has since come off those highs, but it remains a strong currency trading in the $8,000-$9,000 per coin range at the time of this writing. It appears that at least some investors are willing to give Bitcoin more of a benefit of the doubt compared to some other types of currencies in the crypto markets. This likely has to do with the fact that Bitcoin is a household name at this point. At the same time, there are a lot of reasons to like Bitcoin anyway. There may not be a central authority or government that backs up its value, but the general acceptance among many retailers and in particular online businesses has to amount for something. In an interesting bit of news, representatives from NASDAQ have been meeting with people from the traditional financial industry as well as leaders from the crypto world to try to figure out the best way to merge the two as it were. They want to increase the legitimacy with which people see the crypto markets, and the best way for them to do that is to have these types of discussions with leaders from both sides of the fence on this one. They are hoping to open up more constructive dialogue so that the two sides may be able to get along and move forward with their goals for a legitimate crypto market as part of the larger financial world.
Subscribe to Find the Best Cryptocurrencies & News - 99 Crypto
Get the latest posts delivered right to your inbox.