Bitcoin Fell Due to Regulatory & Sell Pressure, Will Recover Soon

According to Jonathan Cheesman, a partner at investment firm Distributed Global, Bitcoin has fallen due to five major reasons: macro trend, speculative dominance, regulatory uncertainty, short selling, and scams.

But, as the market and cryptocurrencies as an asset class continue to see improvements in infrastructure and regulation, Cheesman explained that a growing number of investors will recognize cryptocurrencies as robust and legitimate stores of value.

He said:

“For some, things are even more acute now — Venezuela and Turkey being the most obvious examples — and debt sustainability is a real risk to many fiat currencies. In looking for global stores of value gold has served a purpose, but it is archaic. A digital store of value is both more practical and more in touch with the growing millennial generation.”

Regulatory Uncertainty and Weak Infrastructure

Up until 2018, infrastructure targeted at institutional investors and large-scale retail traders was…