Nikolay Storonsky believes that cryptocurrency market is not unusual for big players as of yet. Bitcoin dropped below $6,400. While crypto crown is waiting for institutional investors to come and awaken the sluggish market, the CEO of Revolut Nikolay Storonsky claims that big players are not interested in digital assets like Bitcoin or Ethereum. Speaking at the Web Summit 2018 in Lisbon, Mr. Storonsky explained that institutions especially banks had no appetite in cryptocurrencies as they are focused on making money on their clients. “Unless these big institutional investors and hedge funds move heavily into the crypto world I just don’t think banks will move because they simply try to make money from their clients,” he said. The cryptocurrency traders hoped that institutional investors would stop the 11-month long bearish trend and push prices back to historical highs; however, big companies are wary due to regulatory uncertainties and high volatility that undermines the usability of virtual money. That’s what makes both Storonsky and Larry Fink, BlackRock’s CEO, so skeptical about Bitcoin’s future. Particularly, Fink said that BlackRock wouldn’t launch cryptocurrency-related ETF until the market became more “legitimate.” Meanwhile, one Bitcoin goes for $6,354 at the time of writing, down 1.2% in recent 24 hours. The price broke below significant support $6,400 and touched $6,334 low during Friday trading session. The further decline may be limited by $6,250. This area stopped the sell-off at the end of October. BTC/USD, 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD quickly reverses post-UK data dip to sub-1.3000 level, still in the red ahead of US data FX Street 4 years Nikolay Storonsky believes that cryptocurrency market is not unusual for big players as of yet. Bitcoin dropped below $6,400. While crypto crown is waiting for institutional investors to come and awaken the sluggish market, the CEO of Revolut Nikolay Storonsky claims that big players are not interested in digital assets like Bitcoin or Ethereum. Speaking at the Web Summit 2018 in Lisbon, Mr. Storonsky explained that institutions especially banks had no appetite in cryptocurrencies as they are focused on making money on their clients. "Unless these big institutional investors and hedge funds move heavily into the crypto world I just… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.