These are the key factors that could potentially accelerate the cryptocurrency recovery, according to Brett Harrison
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Brett Harrison, president of FTX US, believes that the cryptocurrency market can recover faster if there’s regulatory clarity, which would make traditional institutional investors more comfortable with the nascent asset class.
In addition, Harrison is convinced that robust US crypto futures and options markets have to become more robust. In such a way, it would be possible to bring down volatility while making it easier for major firms to dip their toes into crypto.
Finally, the FTX US head is convinced that the approval of a physical Bitcoin exchange-traded fund could supercharge another bull run. The U.S. Securities and Exchange Commission is yet to greenlight such a product despite the fact that such ETFs are already trading in Canada and Australia.
Bitcoin, the world’s largest cryptocurrency, is trading slightly above the $20,000 level.
Earlier today, former BitMEX CEO Arthur Hayes warned that there would be more short-selling.