BITCOIN PRICE IS MORE RELIABLE IN 2018, SAYS SFOX EXEC
Although Bitcoin price and virtually all altcoins dropped during the course of 2018, an optimistic review coming from SFOX, a cryptocurrency prime dealer for large-scale investors, reveals that the market also became more stable this year, after Wall Street companies joined the game.
Price fluctuations raise questions and fears, and when large amounts of money are involved, skepticism is probably the safest position. The value of Bitcoin $7271.17 -0.03% used to record oscillations of more than 10% in the course of a week before this year. Furthermore, the price of some coins used to vary by more than 4.5% across exchanges.
While these may lure individual investors, these shifts prevented mainstream adoption as they had an opposite effect on the rest of the population, who regarded cryptocurrencies with mistrust. However, 2018 reveals a slightly different story, according to an interview conducted by Business Insider with the head of growth at SFOX, Danny Kim. The blockchain and cryptocurrency industry progressed on multiple dimensions.First and foremost, the prices of digital assets are significantly more stable across trading platforms, with differences of 0.1% or less. As a consequence, this year has seen many trading firms, asset management funds, and even banking institutions join the market.