Stability in Crypto Market Suggests Massive Accumulation by Institutional Investors

Most investors in the crypto market are hoping for the entrance of institutional investors to start the next bull run. Recent stability of major digital assets like Bitcoinsuggests that institutional investors are already actively involved in the cryptocurrency market. The past two months from August 2018 to early October 2018 have been the most productive period for the cryptocurrency sector. The market has seen more progress in institutionalization, regulation, and infrastructure improvement within the last 60 days than the past nine years. To recap, in merely two months, the following events have transpired in the cryptocurrency industry:
Goldman Sachs clear Bitcoin futures, set to offer crypto custody
Citigroup expected to offer crypto custodian once approved by regulators
Morgan Stanley to offer Bitcoin swap trading, already developed infrastructure to serve clients
The launch of a regulated cryptocurrency exchange Bakky by NYSE, Microsoft, and Starbucks
South Korea, Japan, and the US seeing rapid progress in regulation
$30 Billion brokerage giant TD Ameritrade support the launch of first multi-crypto futures exchange Eris
Coinbase and BitGo approved as trusted crypto custodians
Yet, the fast improvement in the infrastructure of the market had little effect on the price of Bitcoin and other major cryptocurrencies. Since Aug. 9, Bitcoin has remained stable in the $6,400 to $6,800 range, apart from one period in mid-September when it briefly broke out of the $7,000 mark.