A major shakedown just happened in the cryptocurrency market accompanied by a flash crash of Bitcoin’s hash rate. It is happening right on the heels of a significant announcement, an event that should bring more stability and recognition to Bitcoin (BTC) as an investment vehicle.
The launch of the first BTC futures market, Bakkt, happened on Monday, is a substantial even for institutional investors.
At the same time, BTC ATMs are popping up everywhere, and Bitcoin is welcome by a growing number of stores.
It tastes like consolidation.