Art Cashin (floor operations’ UBS director of NY Stock Exchange), attributed the rally of Bitcoin we’re witnessing since August to a huge case of fear of missing out (FOMO). Despite his statements, he has contributed to the global mainstream adoption.
He believes the digital currency has gone parabolic and he expressed his concerns about the future of the coin. Taking into account the mass adoption and the real potential of Bitcoin, we can consider this statement a bit of extravagant.
From newspapers to social media and blogs, Bitcoin is entering into the mainstream more and more every day. There is also some tangible evidence of the currency’s mass adoption, as the example of famous exchange Coinbase. The platform managed to gather more users than other large companies, such as Schwab Brokerage Company.
China and Asian Markets
Despite the governmental ban in China, many Asian individuals are entering the market too. The socialist republics managed to hold their positions on the uptrend of Bitcoin. Also, Other Asian markets are blooming and especially Japan.
A lot more to come
Either due to fear of missing out or something bigger, Bitcoin’s value seems to grow rapidly, but in comparison to the other established markets, it’s still a drop in the bucket.
However, more and more people every day are being engaged with Bitcoin and other cryptocurrencies. More companies and consumers are embracing it and introducing it to their daily life.
As a result, there is a plenty of space for the cryptocurrency market and Bitcoin to grow, raising the percentage of the global population that concerns about it.