Without a doubt, the recent price trend of digital currencies, including Bitcoin (BTC), as well as their overall performance over the past months, is not very impressive. Since early this year, digital currencies have been on a downward trend, procuring massive losses, and losing all the gains they amassed during last year’s bull run. The overall market cap of the entire digital currency market has fell deeply, with a reduction of more than seventy percent over the past nine months.
Bitcoin (BTC) and Altcoins See Increased Adoption
However, despite the recent price performance of these digital currencies over the month, the rate of their adoption has been on the rise, and the maturity and development of digital currency and blockchain-based firms have also seen a considerable level of progress.
More firms are rushing into the crypto space despite the recent price trend, and this is mainly due to the wide range of benefits they have to offer. Clear examples of this are J.P Morgan, Citigroup, and Fidelity – who have shown increased interest in crypto space.
Nigel Green Says FOMO Will Soon Lead to a Massive Bitcoin (BTC) Outbreak
During a Maltese government-run blockchain and digital currency-focused event – DELTA – a prominent leader in the blockchain and digital currency industry – Nigel Green, said that the digital currency market has a very bright future despite the recent performance of the market.
Nigel Green, who is the CEO of DeVere Group, said that “He believes Bitcoin (BTC), as well as other digital currencies in the market, are on the verge of a massive breakout globally. Adding that the adoption of digital currencies is on a continuous rise, and the next massive breakout will be driven by fear of missing out (FOMO).
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin (BTC) is currently worth $6,600 after a decrease of less than one percent over the past twenty-four hours. The current market cap of the digital currency is $114.23 billion and its trading volume over the past twenty-four hours is $4.02 billion.