Swiss Crypto Exchange Newsletter #4:
The Quiet Comeback To Capture More Attention
Zurich, May 14th, 2019– The major crypto currencies BTC and ETH have staged a remarkable comeback vs. CHF, EUR, USD in 2019. Most pairs have literally doubled. See the chart above.
The rally in BTC and ETH in the last few days has taken place against a backdrop of falling equity markets. That is remarkable in itself. New correlation data is being created as you read this.
Many major crypto currencies have recovered in line with BTC and ETH. Skepticism towards crypto and its future power for innovation acceleration remains high on Main Street. But we notice the adoption of a more pro-crypto stance on Wall Street. Or in Swiss terms: sceptical Badenerstrasse and less sceptical Bahnhofstrasse?
There are several fundamental reasons which have helped this recent crypto rally:
- Major banks are finally embracing the power of blockchain and crypto demand for their clients. SCX is dealing with several of these banks, we will have more to come soon.
- Other financials institutions globally are working on prime brokerage, payments, investment products etc. for crypto. SCX is predicting much higher institutional adoption soon.
- The crypto winter and slow down in (weak) ICO concepts has helped to produce a higher quality pipeline today. This is something we at SCX support.
- Clarity on the regulatory front is slowly coming in several countries, including USA and Switzerland. SCX supports better regulation and legal certainty.
- Recent reports have shown that many foreign crypto exchanges have over 95% of fake trading volume reported. With SCX, trading is real.
We never predict market direction at SCX. But something has been happening here.
Swiss Crypto Exchange
For further information please contact our team at contact@scx.ch
