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  • As Bitcoin Price Hovers Below $3,500, Interest in Crypto Climbs, Says $1.2 Trillion Brokerage Giant

As Bitcoin Price Hovers Below $3,500, Interest in Crypto Climbs, Says $1.2 Trillion Brokerage Giant

January 31, 2019

Bitcoin is currently trading at $3,426, according to data compiled by CoinGecko, down 1% within the past 24 hours and more than 7% since the start of the new year.

Contrary to crypto doom-and-gloom speculations made by Warren Buffett, Jamie Dimon, Peter Schiff and other financial analysts, economists and insiders who claim that Bitcoin is going to zero, interest in crypto from retail and institutional investors is heating up, according to $1.2 trillion brokerage giant TD Ameritrade.

In a newly published video on Nasdaq TradeTalks, TD Ameritrade’s Shawn Cruz says their clientele has shown increased activity in their Bitcoin futures trading service ever since Bitcoin fell below $4,000.

“At TD Ameritrade, we offer Bitcoin futures trading for our clients. We saw them get very interested when volume spiked when it was around $10,000. On this pullback lower, there really wasn’t much activity from our client base. But now that we’re getting down to this 3 or $4,000 price level on Bitcoin, we’re starting to see our clients become more interested in trading Bitcoin again.”

Large investment companies are also funding cryptocurrency platforms and exchanges in order to satisfy customer demand for more entry points into the cryptocurrency space.

TD Ameritrade recently backed ErisX, an upcoming cryptocurrency trading platform. The announcement marks another major traditional investment firm to throw its weight behind ErisX, following Fidelity and Nasdaq.

Says Cruz,

“We’ve actually made an investment in ErisX exchange, and for us that’s another way for us to get our clients access to this asset class on a regulated exchange, and it’s also going to bring them more products that are going to be both cash and future related products. So it’s something we’re excited to offer and our clients can look forward to hearing more on that front in the first half of 2019.”

Fidelity also plans to launch its own cryptocurrency custody solution in March, and Nasdaq is powering a growing number of crypto exchanges with surveillance technology.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.