More Financial Advisors are Turning to Cryptocurrencies.

It’s time for another YourDailyBlockchain (YDB) Daily Double – what’s happening in the world of Blockchain, fintech, and cryptocurrencies today?

It was a good morning. I woke up this morning to see bitcoin (BTC) at about $9302.03 USD. Yes indeed a good day. We haven’t seen this level since around November 5^th, 2019. Where it goes from here nobody really knows but here at YDB, we’re confident it will only go up over the long term especially in light of the upcoming BTC halving in May.

It looks like $9000 may be our new baseline support. Let’s see if BTC can hold close to this level for a couple more days. At that point we may just call this the next bull market but let’s not get too far ahead of our self. For now, I’m just happy to see us above the $9000 mark.

Now let’s move on to some YDB Daily News!

Gemini Exchange Hires Ex-Circle Compliance Officer to their Executive Team.

As announced by cryptocurrency Gemini Exchange, they have hired former Circle Executive Blair Halliday as chief compliance officer and money laundering reporting officer for the U.K. and Europe. Mr. Halliday will reportedly work very closely with the firm’s New York-based compliance officer Noah Perlman.

As we’ve noted many times here at YDB, we believe regulation and compliance will only be a positive thing for cryptocurrencies into the future. This will ensure that the cryptocurrency environment continues to build trust among users, and that will only increase overall cryptocurrency usage. This ultimately will be a catalyst to keep the values of our most watched coins increase.

Why More Financial Advisors are Starting to Turn to Cryptocurrencies.

As reported by Forbes, a recent survey of more than 400 financial advisors conducted by Bitwise Asset Management, a cryptocurrency investment firm, more financial advisors are planning to recommend the allocation of dollars to cryptos. According to Bitwise, this move towards a more crypto friendly allocation is being driven by a more maturing asset class and some very positive financial returns in 2019.

As stated by Matt Hougan, Bitwise Managing Director; ”The return characteristics are hard to ignore.”

We’ve noted before one of the key reasons we love cryptocurrencies here at YDB is the asymmetric gain potential coupled with their low correlation to stocks and bonds which ultimately work to decrease a portfolio’s overall risk exposure.

Here at YDB, we’ll take asymmetric gains and low risk any day of the week. Where else can you place a small financial bet and potentially be rewarded with a huge gain?

In fact, of the survey respondents, 64% expect the price of bitcoin (BTC) to increase over the next five years, up from 55% in last year’s survey.

We hope this trend continues and in fact we’re quite confident it will as the cryptocurrency market continues to mature, and more regulation enters the field.

Well, that wraps up another Daily Double here at YDB; your source for daily news and views in the cryptocurrency, fintech, and blockchain world.