CryptoBank.Ltd - Bitcoin tracking for slight weekly losses despite news of regulatory crackdowns

" ...For analysts with a long-term view, that price action fits with their thesis that increased scrutiny will shake out the bad actors and make the markets healthy enough for institutions to invest.

"In the long run this is WILDLY bullish," Brian Kelly, a CNBC contributor and head of BKCM, said in a note to clients Thursday. "If the DoJ and CFTC feel as though they have 'cleaned' up the market, then it paves the way for a U.S. Physically backed Bitcoin ETF, and brings in institutional investors." - Evelyn Cheng | @chengevelyn - Read Full Report

Source: CNBC

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