
While Libra is expected to draw retail customers to cryptocurrencies, Bakkt is likely to attract institutional investors. Following the Bakkt Digital Asset Summit held on July 18, Managing director and quant strategist at Fundstrat Global Advisors Sam Doctor anticipates that Bakkt’s Bitcoin futures contracts might launch in the current quarter.
Fidelity’s crypto arm Fidelity Digital Assets Services has applied for a license with the New York Department of Financial Services. If approved, the firm can start its custodial services in the state of New York. Both these services will address concerns of the institutional players and might hasten their arrival.
The cryptocurrencies have bottomed out and have started a new bull market that has legs to run. In an uptrend, the dips are a buying opportunity. Let’s see if we spot any buy setups in the top five market performers of the past seven days.
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