This “corporate green light” is considered a historic step that could fundamentally change the market structure.
Peter Tchir, former director of BMO Capital Markets and a renowned market strategist, raised a critical point while evaluating these developments:
“The involvement of banks and increased regulatory clarity may indicate that the bear cycle in the crypto market has ended and that the ‘bottom’ has been reached. Institutional capital now has a safe entry point.”
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Tchir notes that bank involvement and regulatory steps in the US have created a safeguard mechanism for institutional investors, which could pave the way for a sustained price increase.
Institutionalization efforts are continuing on a global scale. Argentina has officially allowed local banks to offer crypto services to their customers. Meanwhile, Binance is expanding its range of regulated products despite increased volatility ahead of the FOMC meeting.
*This is not investment advice.
Continue Reading: Veteran Expert: “The Bear Market in Cryptocurrencies May Have Ended and Bottomed Out”
