coinpass Market Update: June 2023

During the last year, numerous investors have experienced losses both in their portfolio's performance and in dealing with the changing regulatory standards of major nations like the US, Europe, and the UK.

The cryptocurrency markets, like other markets, have cycles that alternate between bull and bear phases. These markets are decentralized and do not favor any particular type of investor. These cycles typically occur over a few months rather than years and affect the global market.

So why is crypto suddenly booming?
As we approach the end of 2023, there has been a positive shift in the cryptocurrency market, despite continued resistance in the US. Major institutions have listened to their clients and are now successfully filing for Bitcoin and Ethereum ETFs to be traded on major financial markets.

THIS IS A BIG DEAL!
Newly filed ETFs are backed by cryptocurrency and not cash, unlike previous instruments. The crypto is safely stored with trusted custodians like Coinbase and BitGo. Major institutions like Blackrock and Fidelity, who were previously critical of crypto, now offer their customers secure, dependable, and liquid products for trading on public markets due to increasing demand. Although the growth of this demand is speculative, with the fixed amount of Bitcoin available, the future looks optimistic for Bitcoin and Ethereum, at the very least. (read more: https://coinpass.com/en/blog/markets/coinpass-market-update-june-2023)…

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