Investing.com - Cryptocurrencies remained flat on Thursday as some analysts think the bitcoin lull could soon be over.
Bitcoin edged down 0.75% to $6,709.80 on the Bitfinex exchange, as of 10:19 AM ET (14:19 GMT).
Still, bitcoin prices could recover soon, Mati Greenspan, senior market analyst at eToro, told MarketWatch.
“It's only a matter of time now. Of course, the flatline pattern could easily remain for another few months and that wouldn’t be a bad thing, however, there are signs of excitement boiling underneath the cool price action exterior,” he said.
Cryptocurrencies overall were steady, with the total coin market capitalization at $210 billion at the time of writing.
Meanwhile, Joey Krug, the chief information officer at Pantera Capital, expects the cryptocurrency market to expand to more than $2 trillion.
The market is close to bottom and traditional financial services joining the industry could lead to a bull market, he said. But news of crypto trading platforms is not enough to increase prices.
“Two years ago, that would have been a huge bull run ... But I think at this point the market is really waiting for actual adoption to start to pick up,” he said on Bloomberg.
Still, he thinks prices won't really rebound until problems of scalabilty are solved.
“We could see a rebound before then, but I think that’s gonna be the real catalyst that drives the next huge bull run in my opinion," he said.
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