«Institutional Investors Returning to Bitcoin
We’ll never get tired of discussing cryptocurrencies, including Bitcoin. The current situation of Bitcoin makes us remember that proverb about silver linings of dark clouds. Since it’s the fourth month of 2018 we can say for sure that the phenomenal success of Bitcoin, which happened in 2017, won’t repeat this time. Actually we witnessed a tremendous fall of Bitcoin this winter, but now something makes us believe that it’s too early to send Bitcoin straight to its grave.
It’s true that BTC has dropped severely. To be more exact, by 70% of its highest value of $20,000, that was reported in December 2017. But now it’s attracting institutional investors who started to believe in BTC again. We’re witnessing some serious money returning to the cryptocurrency market, that’s what we heard from Cryptocampus analyst Jeffrey Van de Leemput. He says that now a real bubble has started to appear.
At the moment cryptocurrency is trading for over $8,000 per coin, and this situation corresponds with Olga Feldmeier’s prediction. Smart Valor’s CEO says that a huge crowd of investors have been waiting for this bull phase for a long time, and now they’re greatly happy to be able to support it.
BlockTower Capital’s CEO, Ari Paul, adds that he’s not surprised to see this revival of Bitcoin, because such institutional investment was quite inevitable here. What’s more, he says that institutional investors are smart enough to catch this alpha opportunity, even if they don’t believe in it.
Jacob Puncey, Saxo Bank’s analyst, is sure that numerous uncertainties around BTC are making its rebirth possible in other financial markets, which don’t correlate with the mainstream market. He says that together with a remarkable pullback in the mainstream markets there’s a significant inflow of money into the assets, that are located outside the traditional financial system, where cryptocurrencies are respected and valued. The inflow of funds from institutional investors together with increase in BTC regulation may lead cryptocurrencies to a more positive period.
CME Group’s managing director Tim McCourt confirms a steady increase of the trading volume.
That’s what representatives of respectable institutional investors say. If we believe them, we’ll see that Bitcoin can rise again. But whether it’s true, we’ll see ourselves very soon.