Blockchain hype will drive up Bitcoin prices

XBT provider, which is well-known for its Bitcoin tracking on the Nasdaq Nordic Exchange, recently expressed its optimism about the future of Bitcoin. With the application of blockchain technology, the price of Bitcoin will rise in due time, giving the concept of Bitcoin more validity and legitimacy.

XBT provider witnesses the success of blockchain applications

In the early years, almost no one was willing to lend a hand to the concept of blockchain technology, but now large banks and financial institutions are racing to launch their own private distributed ledger technology. Many Bitcoin enthusiasts see this as a discrediting of the concept of blockchain, however, XBT providers believe that this is beneficial to Bitcoin prices in the long run.

It’s a good idea to keep an eye on XBT provider’s ideas, as the company has had quite a bit of success in the financial sector. Not only has XBT provider launched the world’s first Bitcoin exchange-traded fund (ETF) on the Nasdaq Nordic exchange, but they are also planning to massively expand their services around the world in the coming months.

If Bitcoin and its underlying technology can be integrated with the traditional financial industry, this will be a successful model. The two exchange-traded funds (ETFs) issued by XBT provider - Bitcoin Tracker One and Bitcoin Tracker Euro - have been warmly welcomed by traders on the Nasdaq Nordic Exchange.

Bringing Bitcoin and blockchain to every customer in the financial sector is the biggest hurdle to overcome. Bitcoin trading tools can provide greater legitimacy to the concept of digital currencies and distributed ledger technology that can power innovation.

Christoffer De Geer, XBT provider marketing manager, said:

“External factors may also help. The Chinese stock market crash, the devaluation of the yuan, and the EU’s standoff with Greece’s Tsipras government in June all added to the narrative of Bitcoin’s important advantages over fiat currencies. We do not believe that the current blockchain craze has contributed to the rise in Bitcoin prices, but we believe that the hype around private blockchains will contribute to higher Bitcoin prices later.”

According to XBT Provider, now that some of the world’s largest banks and financial institutions are also focusing on integrating blockchain technology, Bitcoin and Bitcoin prices have a bright future. There is an increasing demand for exchange Bitcoin trading equipment, especially from investors who have suffered losses in the traditional financial sector over the past year.

All trading instruments are not created equal

While demand for Bitcoin trading tools is starting to increase, XBT Provider warns traders that not all trading tools are created equal. In fact, some tools offer trading the digital currency at a premium to Bitcoin, rather than forcing investors to use illiquid trading platforms.

Bringing Bitcoin as a financial instrument to trading platforms to meet different needs will drive Bitcoin prices up in the coming years. XBT Provider expects institutional investment in Bitcoin to continue to grow in 2016. Asset management companies around the world are now becoming more and more aware and familiar with the idea of ​​using Bitcoin trading tools in traditional transactions.

Original article: https://news.bitcoin.com/blockchain-hype-will-translate-higher-bitcoin-prices-says-xbt-provider/
By JP Buntinx
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/xbt-provider-blockchain-bitcoin-price)