The last few weeks have been quite miserable for the crypto traders, and the market has fallen harder than ever during 2018.
But fortunately, Bitcoin seems to be on its way up again, and in the past 48 hours, it surged more than 10%. At the moment, BTC is trading in the green, and it’s priced at $4,198.30 on CoinMarketCap.
Institutional interest in crypto is continually growing
There have been a lot of positive developments in the crypto space during the past week.
There was some pretty great news coming from the Consensus Invest conference in NYC, and most announcements were highlighting high confidence from institutions which are building crypto financial products.
VanEck and NASDAQ
NASDAQ stock exchange just teamed up with VanEck investment management company to bring a host of new crypto financial products to the market.
The partnership was revealed during CoinDesk’s Consensus: Invest Conference.
Gabor Gurbacs, VanEck director of digital asset strategy said that the move would bring a “bring a regulated crypto 2.0 futures-type contract” to the market.
According to him, they will release early next year the very first of more such products.
“What I’d like to point out is we ran a few extra miles working with the [Commodity Futures Trading Commission] to bring about new standards for custody and surveillance,” Gurbacs commented during a panel.
According to Gurbacs, the next year will be a fascinating one.
He also made sure to add that 2018 was the year of regulation and 2019 will definitely be the year of implementation.
@Nasdaq and VanEck’s @MVISIndices announces #index #partnership and intention to bring to market transparent, regulated and surveilled #DigitalAssets products, such as #Bitcoin futures contracts. More info to come. Share & follow us. #crypto #futures #SMARTS #ConsensusInvest pic.twitter.com/Q2oCZx4pp1
— Gabor Gurbacs (@gaborgurbacs) November 27, 2018
Google searches for Bitcoin hit the highest level since April
Bitcoin searches in the past three days alone made up 17 percent of its all-time-high weekly search volume set from December 17-23, 2017.
At that time, BTC was trading around its record high near $20,000.