The crypto market crash is only a bump in the road according to a United Kingdom charity fund executive, James Bevan. Bevan stated this at the Bloomberg crypto summit in London on Friday.
Why Cryptocurrency Crash Is A Bump in The Road
At a panel discussion at the Bloomberg crypto summit in London, the chief investment manager at CCLA, James Bevan stated that the recent decrease in the worth of Cryptocurrencies is not an existential crisis but is just a bump in the road.
He further bolsters this opinion while comparing the Cryptocurrency market and the traditional financial institution. Bevan stated that the institutional investors had had plenty of bumps in the road in conventional currencies and transaction system.
Considering a decade year experience of Cryptocurrency and the age-long experience of the traditional financial institution, the momentary experience of the crypto market is only but a bump in the road out of the multiple of it that the conventional market has experienced and has overcome. This shows that better days are ahead in the Cryptocurrency market.
Further, in the formative stage of the crypto market which is presently ongoing indicates that the future of the crypto market entails greater regulations, more large institutions, lower volatility and greater integration with traditional assets, despite the present condition of the market.
Notably, CCLA is self-described as one of the largest as one of the largest UK’s fund managers and stated to have £7,842 million about $10 trillion on the last day of March 2018.
Large Institutions Delving Into Crypto Market and Crypto Regulation
The next phase of the crypto market which is expected to involve the massive influx of large institution is already taking place. This is evident with the role of the world second largest stock exchange market Nasdaq planning to launch its Bitcoin future market in the first half of 2019. This is expected to be followed by more into the crypto market.
Meanwhile, as the crypto market is jeering towards the influx of institutions, there is a need for the market to step up the pace of its regulation, which has been a hindrance to its full acceptance. Marieke Flament shares this thought, the global chief marketing officer at blockchain-powered payments firm; Circle Internet Financial Ltd noted that its necessary to get the wheel of regulation in motion so that the industry can learn from the potential mistake.
Also, Jeremy Allaire called on the global economies, such as G20 to collaborate on the development of the crypto regulation.