Retail trading platform Spectrum Markets says European retail investors are bullish on crypto. Part of the reason for this statement is that some US Presidential candidates have indicated their support of digital asset innovation.
Michael Hall, Head of Distribution at Spectrum Markets, said that former President Donald Trump’s comments on crypto, specifically his claim he would turn the US into a “global crypto currency capital and Bitcoin superpower” is pushing public perceptive in a positive direction.
Robert F. Kennedy, running as a longshot independent candidate, has joined support of crypto calling for a federal Bitcoin reserve.
“Additionally, the Russian government’s legalisation of Bitcoin for export trade payments to counteract Western sanctions has likely been seen by retail investors worldwide as a strong signal, potentially fueling demand,” says Hall. “However, the abrupt drop in price of Bitcoin and Ether in early August, took many investors by surprise, highlighting once again the dynamic and unpredictable nature of the cryptocurrency market.”
Hall, like many others, sees the approval of Ether ETFs as a pivotal point too. the fact that the European Investment Bank has issued digital bonds, as well as other organizations doing the same, support the thesis of a digital asset future.