PwC Remarked that Crypto Industry not Immune to Crisis
PwC says that Crypto Industry unable to get mainstream investment
PwC says that through reports, it has been revealed that the crypto industry was unable to get institutional investors. This could be said as the industry was unable to get investments from institutional investors which indicates that they are not attracted by cryptocurrency.
The firm has also said that even though the price of bitcoin has gone up to $13,500 in July 2019 along with other notable increases in the year, it was unable to get the investment from the mainstream investors. This must-have shattered the hopes of the whole crypto industry. When the institutional investors started investing in the crypto industry, it started hoping that there will be big investments in the future also.
The situation might get worse because of COVID-19
The reports are coming on a daily basis which shows how the coronavirus pandemic has affected the global economy. It has been affected adversely and the whole financial market is going through a huge slowdown. Because of this slowdown, it is quite indicative that there will not be any investments by institutional investors in the near future.
Some of the analysts from the industry are believing that there might be a growth in the investors this year. These investors will majorly belong to Asia and the Middle East.
Well, several reports have also suggested that after some time the crypto industry will not be that much relevant. This could be possible because it is unable to attract the mainstream investors till now.
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