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Cryptos: A Small Reprieve

 1 min read / 

cryptos

After shedding a substantial amount of their market capitalisations last week, the top five cryptocurrencies have recovered some ground. Bitcoin is now above the $6,500 threshold though many still expect it to sink further. However, Mike Novogratz, CEO of crypto hedge fund Galaxy Digital Assets LLC, recently said that he expects institutional investors to pile into cryptocurrencies in the near future as more ways of taking short positions emerge. Presently, bitcoin futures are the only way to hedge long crypto bets but with the development of blockchain-based predictions markets such as Augur, more possibilities may soon open up.

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