Jeff Currie, Goldman Sachs’ global head of commodities research, stated that the Bitcoin market becoming more mature in an interview with CNBC this week.
Currie mentioned that it can be very difficult to predict Bitcoin’s price because of the volatility in the market, but added that most nascent markets behave this way. He implied that as the Bitcoin market matures it may become less unpredictable.
“The key to creating some type of stability in the market is to see an increase in the participation of institutional investors and right now they’re small,” Currie said.
At the time of writing Bitcoin is trading hands for $38,589 and is up 7.56%. The leading cryptocurrency by market cap stormed headlines last week when it surpassed the $40,000 price level.
By Emily Mason