BTC/USD is controlled by bears, unchanged on a day-over-day basis. Nikolaos Panigirtzoglou from JPMorgan believes big players will return to the market. Bitcoin is in decline mode once again. The first digital coin is trading at $3,360, mostly unchanged in recent 24 hours. BTC/USD has come dangerously close to the critical short-term support zone. Once it is cleared, the downside main gain traction with the next focus on $3,200-$3,000. As Bitcoin’s price moved away from overhyped levels, institutional players began changing their views on the industry. According to Nikolaos Panigirtzoglou, Global Market Strategist at JPMorgan, the cryptocurrency market will see big players returning to the industry. Now that the volatility subsided, institutional investors feel more confident and ready to give Bitcoin a second chance. “The stability that we are seeing right now in the cryptocurrency market is setting the stage for more participation by institutional investors in the future. The cryptocurrency market was a new market. It went through a bubble phase [and]the burst,” he said. Speaking in the interview with CNBC, the expert explained that cryptocurrency growth is capped due to the absence of regulatory oversight. Though, the situation is likely to change within the upcoming years. While Mr. Panigirtzoglou is not overly optimistic, his view implies a renewed interest in cryptocurrencies, which may translate into positive price momentum. Earlier, Litecoin’s creator Charlie Lee said that Bitcoin would return to $20,000 within three years. BTC/USD, the daily 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 EUR/USD still favours a rebound to 1.1500 and above – Commerzbank FX Street 4 years BTC/USD is controlled by bears, unchanged on a day-over-day basis. Nikolaos Panigirtzoglou from JPMorgan believes big players will return to the market. Bitcoin is in decline mode once again. The first digital coin is trading at $3,360, mostly unchanged in recent 24 hours. BTC/USD has come dangerously close to the critical short-term support zone. Once it is cleared, the downside main gain traction with the next focus on $3,200-$3,000. As Bitcoin's price moved away from overhyped levels, institutional players began changing their views on the industry. According to Nikolaos Panigirtzoglou, Global Market Strategist at JPMorgan, the cryptocurrency market will see… 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.