How does BNY Mellon's involvement impact the value of BTC and ETH?

3 answers

• Dec 25, 2021 · 3 years ago
  BNY Mellon's involvement in the cryptocurrency market, particularly with Bitcoin (BTC) and Ethereum (ETH), can have a significant impact on their value. As one of the largest global custodian banks, BNY Mellon's entry into the crypto space brings increased credibility and institutional adoption. This can attract more investors, both retail and institutional, leading to higher demand and potentially driving up the prices of BTC and ETH. Additionally, BNY Mellon's involvement may also contribute to increased regulatory clarity and mainstream acceptance of cryptocurrencies, further boosting their value.
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• Dec 25, 2021 · 3 years ago
  When a major financial institution like BNY Mellon gets involved with cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), it sends a signal to the market that these digital assets are gaining legitimacy. This can result in increased investor confidence and interest, leading to higher demand and potentially driving up the prices of BTC and ETH. BNY Mellon's involvement also brings additional liquidity to the market, making it easier for investors to buy and sell BTC and ETH. Overall, BNY Mellon's participation can have a positive impact on the value of BTC and ETH.
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• Dec 25, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can say that BNY Mellon's involvement in the market has the potential to significantly impact the value of Bitcoin (BTC) and Ethereum (ETH). With their extensive experience and reputation in the traditional financial sector, BNY Mellon's entry into the crypto space can attract more institutional investors. This influx of institutional money can drive up the demand for BTC and ETH, leading to an increase in their value. Additionally, BNY Mellon's involvement may also lead to increased regulatory clarity and improved infrastructure, which can further support the growth of BTC and ETH.
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