Nasdaq, America’s second largest stock exchange, recently launched liquid indices of Bitcoin [BTC] and Ethereum [ETH]. These liquid indices aim to provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, based on the most liquid ends of their markets.
Nasdaq recently shared a blog by Due.com which speculated if this was the right time to invest in cryptocurrencies. It speculated about how the fall of Bitcoin’s price from its all-time high of $20,000 to a mere $3,700 could be an “attractive entry point” for individuals or investors looking to invest.
Although the cryptocurrency ecosystem was infested by scammers through ICOs in the past, such incidents fell in number due to the involvement of the U.S. Securities and Exchange Commission [SEC]. The article also stated that cryptocurrency investment could be risky and that one should do thorough research before investing in it.
It stated,
“If you’re interested in growing your wealth over time or maximizing your return, crypto shouldn’t be your go-to solution. Instead, it’s much better to prioritize optimizing your saving and spending habits, and making use of several types of investments to diversify your holdings.
Crypto is also intended to be used as a currency—that is, exchanged for goods and services, rather than simply held to achieve gains—though it’s certainly possible to treat it as an investment.”
Moreover, the article also elucidated that peer-to-peer exchange of value was simplified thanks to cryptocurrencies, while briefly touching on the upcoming developments which are on the horizon including, Bakkt, Bitcoin ETFs, etc.
The article concluded by stating that the price of cryptocurrencies fell by 80% from its all-time high and that there is still room for cryptocurrencies to grow in the upcoming future, be it the prices or the technology and that “this could prove to be a valuable time to enter the crypto market.”
Read more at: https://ambcrypto.com/nasdaq-hints-at-investment-in-cryptocurrencies-after-the-launch-of-bitcoin-and-ethereum-liquid-indices/
