Bitcoin is the most searched term as everyone from venture capitalists, crypto novices and technology researchers rush to find the latest news and every update. Update on the profitability of digital currency.
With a market capitalization of over $240 billion, Bitcoin has turned many people into millionaires in a short time. Investors rushed to buy Bitcoin during the most recent bull run in early November, pushing the coin’s price to a record high of $20,000.
The unexpected price correction during the Christmas week sent investors into a panic due to the sharp drop in prices.
It is not surprising that financial analysts and industry experts have been indifferent to the market due to the volatility in recent weeks. Both large business and investors seem cautious about investing in the cryptocurrency market.
For retail investors
In an interview with CNBC this week, American billionaire Tilman Fertitta, who started his career in the restaurant business, said that the average person would never touch Bitcoin until they have some form of security. guaranteed insurance.
However, this billionaire is not opposed to the idea of making Bitcoin a widespread means of payment in the future, even applying it in a number of his businesses, ranging from casinos, hotels to homes. row.
For big investors
Many financial institutions have entered the crypto world after Bitcoin futures contracts were launched on CBOE and CME exchanges. Add to that the entry of NASDAQ and Goldman Sachs in 2018.
However, large companies still seem reluctant to pour a certain amount of capital into the market.
In an interview with CNBC this week, head of currency technology and forex company FiREapps Wolfgang Koester said big companies still want a less speculative environment.