Catalysts: What Bearish Cryptocurrency Traders Seem to Forget

Cryptocurrency traders have obviously underrated the power of bullish news. However, experts expect this to light a fire that will fuel cryptocurrency prices.

Fidelity Investments Launch an Institutional Platform for Bitcoin and Ethereum Traders

Looking at some of the most recent bullish news, we first see Fidelity Investment’s plans to launch an institutional platform for Bitcoin and Ethereum. The privately owned investment management company plans to start a new company called Fidelity Digital Asset (FDA).

FDA will offer cryptocurrency services to both institutional and hedge fund traders. Additionally, it will provide enterprise-grade custody solutions. This is a cryptocurrency trading platform as well as a 24/7 institutional advising service. The platform works hand-in-hand with the blockchain’s ever-active trading cycle.

Fidelity Investments is a vast company. It offers financial services for $7.2 trillion in customer assets and investment services for about 13,000 institutional advisory firms and brokers. That’s why the FDA represents the largest push into cryptocurrency in 2019.

Bakkt Cryptocurrency Services

Another reason to be bullish about the crypto market is the self-proclaimed ecosystem for regulated digital assets- Bakkt. Bakkt is a firm produced by The Intercontinental Exchange [ICE] which are also the owners of the New York Exchange.

Bakkt will pave the way towards the mainstream adoption of digital assets for Bitcoin and other cryptocurrencies.  This new platform has made it possible for traders to buy, sell and store cryptos in a federally regulated market.

Bakkt has greatly encouraged cryptocurrency adoption especially among the younger generation. Younger traders are more comfortable conducting transactions using electronic systems. Notably, most of them are venturing into digital assets, seeing it as a store of value.

ErisX

The other thing that will propel the crypto market is the TD Ameritrade move. Despite the plummeting cryptocurrency prices, TD Ameritrade is all in. The U.S. brokerage firm announced a tactical investment in an exchange called ErisX. The platform offers both Bitcoin spot and futures trading.

TD Ameritrade has more that $12 trillion in assets and 11 million retail accounts. It is the first financial services firm to offer approved clients access to Bitcoin futures contracts. TD Ameritrade offers exposure to the buying and selling of cryptocurrencies. This, in turn, demonstrates institutional investor demand for cryptos.

Sooner or later, the entire world will adopt the digital assets technology. Financial institutions will initiate the blockchain technology and lead traders into the cryptocurrency ecosystem.  Cryptocurrencies will definitely undergo a bull run in 2019

 

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