The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The market data is provided by the HitBTC[1] exchange.
In the stock markets, the introduction of index funds[2] was a popular move. Why? It attracted many new investors because it is easy to invest and it provides better returns than most of the hedge funds.
Cryptocurrency trading is like a roller coaster ride that many are unable to digest. However, if they can be offered a less volatile option with comparable returns, most would probably jump into the fray.
To cater to this requirement, scores of cryptocurrency index funds[3] are cropping up. These are advertised to be less volatile, providing commensurate returns. If they can prove themselves over a bull and bear cycle, a bunch of new investors should flock to cryptocurrencies.
As it is, the large investment banks like Goldman Sachs[4] and Barclays[5] are rumored to be laying the groundwork to start cryptocurrency trading desks. Their entry will increase the volume and deepen the markets.
Finally, the traditional banking community is recognizing the importance of digital currencies. The latest boost was provided by a blog post by Christine Lagarde, head of the International Monetary Fund (IMF) where she outlined[6] potential benefits of the cryptocurrencies.
Many recent prices developments are giving us a feeling that the worst might be behind us and most of the virtual currencies will enter a bottom forming process.
