The Crypto Wave is Rising Once Again

Is the crypto wave on the rise again? According to CoinMarketCap, the total market cap of Bitcoin and all cryptos is about $441.2 billion as of the time of writing this article, which represents a 70% increase in one month.
 
As of April 1, just over one month ago, the total market cap was about $258.9 billion. At that time, the sentiment in the media was extremely negative with many stating that Bitcoin was worth nothing or would soon be worth nothing.
 
There are TWO major reasons driving the wave.
 
First reason, the Lightning Network has seen significant improvements in recent months, and will continue to see improvements, that will allow Bitcoin to process a lot more transactions for much, much cheaper than it currently can.
 
Second reason, and likely more important than the first, three major institutional investment firms have recently decided to start investing in the crypto industry.
 
Billionaire, George Soros, who has a $26 billion wealth management firm, Soros Fund Management, has decided to begin trading digital assets. Soros Fund Management told Bloomberg in April that the fund is approved to trade cryptocurrency.
 
Another major firm that has decided to invest in cryptos is Venrock, a venture capital firm associated with the Rockefeller family’s personal wealth fund.
 
Last but certainly not least, Goldman Sachs reportedly hired a crypto currency trader by the name of Justin Schmidt.
 
The fact that these three firms have decided to become involved in the crypto industry is huge! These aren’t just three investment banks out of New York, these are large sophisticated institutions. What this represents is a change in perception of Bitcoin and cryptocurrency. 
 
Why is that important? Or more importantly, why could that cause an increase in the perceived value of cryptos?
 
Because currently, the value is really based on perception. The whole concept of value can be fairly subjective. Currently, these digital assets are only worth what everybody collectively believes them to be worth. If everybody starts believing in cryptos then the value will continue to increase.
 
About one year ago, none of the above major institutions would have even considered trading cryptocurrencies. This change in sentiment represents something much greater than some investment bankers trying to make a quick return. This change in sentiment could be a major contributor to the crypto wave rising once again.
new,joel