Cryptocurrencies are Filtering Into the U.S. Stock MarketOct 16, 2019
There is yet another piece of great news for crypto enthusiasts, and it is that cryptocurrencies are continuing their march onto the U.S. stock market. Nasdaq, the second largest stock exchange in the world, just added index CIX100 based on 100 crypto assets. This index is already listed by Reuters, Bloomberg, and TradingView, which signifies that it is in high demand.
Taking all of this into account, it could be said that the low activity on the part of institutional investors is most likely due not to the lack of investment tools but by the direct efforts by the U.S. government to prevent the rapid spread of cryptocurrencies.
Despite the moderate decline in the overall capitalization of the crypto market the CIX100 index is still holding above the October lows, which indicates that investors and traders are fairly optimistic.
Consequently, the emergence of a strong bullish driver for BTC may bring back the buyers and, what’s even more important, attract institutional investors.
The general sentiment in the marketplace remains moderately negative, and this is reflected on the capitalization graph. Most technical indicators suggest that buyers are currently weak. Nevertheless, there is no cause for panic as the total capitalization remains above the important level of $200B. When the capitalization gets up to above the $221B level, it will be a sign that buyers are ready to resume growth in the long term.