Over recent months, the cryptocurrency markets have been undergoing a period of unprecedented growth. Even despite short periods of pullback, Bitcoin appears to have found solid support at the $50,000 mark, with a market cap hovering around $1 trillion. There’s plenty of speculation it could go higher.
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The broad consensus is that the current bullish trend is buoyed by institutional involvement in cryptocurrencies. Thanks to a combination of improved regulatory clarity, and the entry of some of the biggest global banks and financial firms, professional money is now flooding in as institutions aim to capture some of the growing value. Part of the reason this is now possible is the pace of development over recent years. Unlike the 2017 bull run, professional investors now have access to a range of services and financial instruments that simply weren’t available a few years back.