For the past week, the cryptocurrency market was aggressively falling down. Experts say that the main reason for this trend is Bakkt, a new company planning to feature Bitcoin futures, which is now bringing down the Bitcoin price to make the entry more appealing for institutional investors.
Why Cryptocurrency Is Going Down
Based on common sense, the price of cryptocurrency is dropping due to recent events associated with Bakkt. Bakkt is a new firm that is part of Intercontinental Exchange, an organization that runs the NYSE. The firm is planning to launch in January of 2019 and begin aggressively trading Bitcoin futures.
Institutional Investors to Join Bakkt
Because the new firm is about to launch, it is intending to attract as many institutional investors as possible; many experts believe that the firm is manipulating the market to make Bitcoin price more attractive. However, once the project launches, the Bitcoin price might begin to grow pretty quickly.
Experts Are Waiting for Another Cryptocurrency Bull Run
A majority of cryptocurrency professionals expect another large bull run once Bakkt launches. According to Joey Krug, a Pantera Capital official, this upcoming bull run will multiply existing market capitalization by 10 times.
Why People Use Crypto-Backed Loans During the Slowdown
While true crypto holders are waiting for the upcoming bull run, they still must survive the Crypto Winter. Many folks need cash to maintain their day-to-day lives. Because they need cash immediately, many crypto enthusiasts turn to YouHodler for crypto-backed loans.
YouHodler is the youngest and the most promising crypto-backed loan company that is offering instant cash loans for cryptocurrency collateral. Users find the service to be transparent and easy-to-use. YouHodler offers the highest loan-to-value ratio in the market, and users can deposit top cryptocurrencies, including Bitcoin, as loan collateral. Customer service is 24 hours a day, 5 days a week.
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