RATE Group | Bitcoin frenzy settles down as big players muscle into market
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Bitcoin frenzy settles down as big players muscle into market

27 Apr Bitcoin frenzy settles down as big players muscle into market

Posted at 10:33h in Bitcoin News by

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LONDON/NEW YORK/SINGAPORE (Reuters) – After bouncing up, falling down and keeping investors on the edges of their seats, bitcoin may be maturing into a period of relatively boring stability, experts say.

Tokens of the virtual currency Bitcoin are seen placed on a monitor that displays binary digits in this illustration picture, December 8, 2017. Picture taken December 8. REUTERS/Dado Ruvic/Illustration

A worldwide wave of regulation has led to a collapse in trading volumes. Cryptocurrency advertisements are disappearing from top internet pages, and bitcoin no longer dominates Google searches.

As investors try to figure out what bitcoin wants to be when it grows up, the best-known cryptocurrency is going through somewhat of an existential crisis.

“It needs a new narrative,” said Nicholas Colas, New York-based founder of investment research firm DataTrek. “There is every chance that if there is some sort of institutional involvement, there could be a move higher.”

Bitcoin…

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