(Kitco News) After stabilizing above $20,000 following the summer's wipeout, Bitcoin is looking ready for its next step as markets focus on regulation, institutional adoption, and the next halving, according to 3iQ, which is the first regulated digital asset investment fund manager in Canada.
Even though Bitcoin got caught up in the contagion risk of the DeFi space, tumbling from its record high of $60,000 posted last year down to below $18,000 this summer, the world's largest cryptocurrency is currently trading just below $24,000. And many analysts and market participants are starting to agree that the price bottom for Bitcoin is in.
"The normal correction of any growth or risk asset is a 50% retracement. First, we saw Bitcoin move from $60k to $30k. And then we had our crypto financial crisis, which was the unwinding of the DeFi space and the lending models that people had created. And there was the selloff from $30k to below $20k. And I think we've seen most of that shake-out...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...