The head of Kraken cryptocurrency exchange OTC Nelson Minier has claimed that cryptocurrency market is new Wall Street, as bitcoindoubler2x.com has found out.
“Today`s Wall Street is not the same. When I started working on Wall Street, first 15 years were funny. At those times I worked on CDS market, that greatly resembled today`s cryptocurrency market. There was very active trading, many financial innovations were introduced. This market was very vigorous and full of progress enthusiasm”, – Minier claimed, in past he also worked with such companies as JPMorgan and Credit Suisse.
“Everything goes to the fact that case managers, adventurers and advanced hedge funds will soon join the cryptocurrency sphere. At some moment cryptocurrencies will become a phenomenon, which will follow everyone”, – he added.
Nelson Minier noticed that institutional investors show big interest to cryptocurrencies. High profit potential of new digital assets explains this fact. However, the process flows slowly, because the industry still has many associated risks.
“Cryptocurrencies still stay one of the most volatile classes in the world. For very short time Bitcoin can increase by 10% and then also quickly lose 20%”, – Minier stressed.