When the baisse -like month in February ends, the majority of assets in the Cryptocurrency market were seen permanent losses. Bitcoin (BTC) led this downward trend when King Coin dipped under the $ 80,000 brand. While beginners were panic sales and some bought the dip, the standard restored jumping in the chaotic BTC market.
Also read: Dogecoin: Elon Musk’s Grok predicts when Doge will hit $ 0.90
$ 500,000 still on the cards for bitcoin
Kendrick said,
“In the cryptose ecosystem, what we need is traditional financial players, as the standard chartered, such as Blackrock and others who have the ETFs now to really step in. When the industry becomes more institutionalized, it should be safer.”
He thinks that greater regulatory clarity in the US market is necessary for this to happen. According to Kendrick, price stabilization and regulatory security are the conditions for large financial institutions to feel comfortable investing in bitcoin and other cryptocurrency assets.
How is King Coin currently doing?
At the time of writing, Bitcoin traded to $ 79,087.27. This comes after King Coin dropped by almost 10% over the past 24 hours. It should be noted that BTC acted on a high of $ 87,000.78 earlier today. The world’s largest Cryptocurrency decreased by about 20% this week. Bitcoin is currently priced at a low monthly low.
Also read: Ripple: Ai predicts how low can XRP fall into the current market scenario
