In the last two days, cryptocurrency traders have remained optimistic after the price recovery of major coins in cryptocurrency trading. Volumes are still low, but prices of popular digital currencies such as Bitcoin, Ripple, Ethereum and Bitcoin Cash has steadily risen.
Bitcoin Price Steadily Growing
Since the start of the year, the price of Bitcoin has been relatively low. On February 6th the price was below $6,500 and close to $6,000. However, today on 13th February, it surpassed the $9,000 mark, recording an optimistic performance. Experts are still optimistic that the price will surpass the $10,000 mark, often seen as the psychological threshold. However, for this to happen, the trading volume needs to stay up. In the last 12 hours, the volume for today has been low, and for the digital currency price to reach the $10,000 mark, the coin trading volume will have to increase.
Cryptocurrencies in the Traditional Financial Markets
Bitcoin and other cryptocurrencies are relatively new assets, but investors in the traditional financial market have been enthusiastic about crypto trading and the assets have even been introduced as part of the traditional finance markets in the form of futures. If this enthusiasm can be translated into investment, the prices will go up.
A cryptocurrency report titled “JPMorgan Perspectives: Decrypting Cryptocurrencies, Technology, Applications, and Challenges” published this week by JPMorgan which is the largest bank on the planet, with a market valuation of more than $380 billion, pointed out that cryptocurrencies will play a huge role in diversifying the world’s bond and equity portfolio. The paper further pointed out that the minimization of risks in the investment of cryptocurrency by diversifying assets was an important undertaking.