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Keep Calm and Carry On: Institutional Crypto Investors Bullish Despite June Selloff

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This year began with a rocky start in the cryptocurrency world. After a record-breaking $500 million theft from Coincheck in January, virtual currency market cap has slid to about half of its value at the year’s start. While this trend is discouraging many cryptocurrency investors from the market as a whole, professional financial analysts don’t seem daunted. In fact, many of them are seeing the down markets as an opportunity to get in while prices are low.

Halo Platform recognizes the long-term value of cryptocurrencies and blockchain technology, and the markets will benefit from an increase in value-based investment. The more informed investors there are in the virtual currency markets, the less speculation there will be. Less speculation means more stable coin prices, and that’s good for everyone. This is why Halo Platform is building a cryptocurrency community based on sound technology and clear information. By creating a platform that’s functional and simple to use for everyone, we’re fostering the next phase of the cryptocurrency revolution.

Bad News from Overseas Markets

Cryptocurrency speculators are famously reactive to the news cycles, and this week has been no exception. Indian cryptocurrency trading turned bearish after the nation’s largest coin exchange, Zebpay, announced that it will soon be cut off from traditional banking services. This move was not totally unanticipated, as the Reserve Bank of India issued a directive to this effect back in April, but nonetheless Zebpay’s release triggered a massive sell-off on Indian cryptocurrency exchanges.

Despite the magnitude of nation’s anti-cryptocurrency banking policies, news of the virtual currency troubles in India didn’t even grab the media spotlight this week. Instead, financial news outlets were focused on the dual hack attacks on popular South Korean crypto exchanges Coinrail and Bithumb. In two independent thefts that occurred between June 9 and June 20, hackers made off with a combined $70 million in digital coins from the exchanges. Although both exchanges have already announced their intention to repay affected customers from coins held in cold storage, the thefts have contributed to a downward slump that has dragged the price of Bitcoin down from a trading range of around $7,500 at the beginning of the month to under $6,400 at the time of writing.

Optimism for the Long-Term

Up until the news cycle turned sour this month, the cryptocurrency markets had been uncharacteristically quiet. Much of the volatility that crypto investors have come to expect on the coin exchanges have subsided, indicating that speculators are starting to give way to value-based investors. While the recent panic-driven selloff has turned coin markets bearish once again, analysts and institutional investors seem relatively unphased. In fact, just after the South Korean exchanges were hacked, Goldman Sachs announced that it is setting up a cryptocurrency trading desk. The fact that the financial giant is expanding its current virtual currency interests beyond the derivatives market is a positive sign for the long-term value of cryptocurrency investments.

Cryptocurrency markets are stabilizing, but every so often negative press triggers a panicked sell-off. This indicates that speculation is still an issue despite the increasingly value-based investment activity across cryptocurrency markets. Financial professionals see that these shifts are only temporary, but in order for the everyday investor to avoid the panic and make well-informed decisions, they need a platform that can help them understand the movements of the market. Halo Platform is exactly that — a place where everyday people can use, buy, and sell cryptocurrencies in an environment that is transparent and easy to understand. By creating a place where cryptocurrency investors can easily become more familiar with the ins and outs of the market, Halo Platform is building value and stamping out the speculation that has been plaguing cryptocurrencies thus far.

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