An oversold market makes the best time to enter. And experts believe it is happening with crypto industry as it retains a yearly bearish bias.<\/p>\n
The significant dip seen\u00a0in 2018, followed by consecutive strong rebounds from a specific bottom area has upped medium-term bullish sentiments in the\u00a0crypto market. Bitcoin, the cryptocurrency with the highest dominance, for instance, has reversed its downtrend on multiple occasions upon testing a $250-wide area below $6,000 as strong support. The price action has led bulls to conclude that it would be impractical for bears to crash Bitcoin below the $6,000-range, citing miners’ breakeven ROI, and the influx of institutional funds around the oversold bottom.<\/p>\n
The growing number of crypto hedge fund launches this year has testified that there is a demand for crypto gateways among institutional investors. Significant monies have entered the $211 billion space by spreading some portion of their investment portfolio to digital currencies like Bitcoin, Ripple, EOS, and Ethereum.<\/p>\n
The endowments\u00a0of several high-profile institutions, including Harvard University, MIT, Stanford University, Yale University<\/a>, Dartmouth College, and the University of North Carolina have spread their risks into at least one cryptocurrency fund.<\/p>\n Commentators often seem surprised when companies make moves, invest, or launch products during crypto bear markets. They then act confused when bull markets return. "Where did this come from?" they ask. Perhaps this is why they are commentators, rather than business people.<\/p>\n — Erik Voorhees (@ErikVoorhees) October 16, 2018<\/a><\/p><\/blockquote>\n\n