https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Bitcoin is at a discount, but institutions have not reacted, Forex-News, Forex-News
Bitcoin
$42,080.04
-354.96
Ethereum
$2,859.60
-116.44
Litecoin
$151.09
-5.91
DigitalCash
$161.82
-6.4
Monero
$226.64
-0.37
Nxt
$0.02
-0
Ethereum Classic
$47.00
-1.32
Dogecoin
$0.20
-0

Bitcoin is at a discount, but institutions have not reacted

15
, Bitcoin is at a discount, but institutions have not reacted, Forex-News, Forex-News

[ad_1]

, Bitcoin is at a discount, but institutions have not reacted, Forex-News, Forex-News
, Bitcoin is at a discount, but institutions have not reacted, Forex-News, Forex-News

As the price of Bitcoin (BTC) is discounted. In particular, moving further away from the all-time high of nearly $ 65,000, things are starting to look different. The data shows that the institutions have shown a reluctance.

In fact, the demand for the cryptocurrency, as well as the excitement it generated over the past months, appears to have stalled. Apparently shaken by the same concerns that have pushed Bitcoin prices lower.

  • The possible environmental damage of Bitcoin.
  • The regulatory crackdown on Bitcoin trading and mining in China.
  • The possibility that the US Federal Reserve will tighten its monetary policy in an effort to combat inflation.

Therefore, it has had an impact on the institutions that invested or considered investing in Bitcoin. Well, while some like Tesla seem to be regretting their investment, stopping accepting payments with cryptocurrency for their cars. Others like MicroStrategy have decided not only to maintain, but to redouble their commitment to virtual currency.

In this regard, analyst William Clemente III pointed out that the demand for Bitcoin by institutional investors had slowed down:

«It seems that the American institutional demand for BTC has slowed down. The currencies had been moving at an increasing rate until the end of February. Now the trend has reversed».

Has price volatility scared away institutional investors, or are they still looking to buy Bitcoin?

In this regard, according to the Glassnode report, “institutional demand seems to remain somewhat mediocre.” The latest data could show why Bitcoin has stalled between $ 30,000 and $ 40,000 over the last month.

For his part, Lennix Lai, director of financial markets at OKEx said: “Even though there is a sign in the recent bear market that investors are scared. We do not see a massive exit of institutional users».

Likewise, Jeff Dorman, Chief Investment Officer of Arca Funds said: “We speak with institutional investors every day. They are still allocating funds in record sizes».

Similarly, John Todaro, Vice President of Research at Needham & Co said: “Some small institutions are still active in moving towards Bitcoin».

Could it be that they are preparing to attack?

As is known, the signs that institutions are preparing to attack continue to grow: companies like BlackRock, Goldman Sachs. Also, Morgan Stanley and JPMorgan are on the list of financial institutions that have established Bitcoin funds and services in recent months.

Indeed, on Tuesday, the financial services firm TP ICAP ad which is launching a platform together with Fidelity Investments and Standard Chartered.

MicroStrategy continues to trust Bitcoin

In short, the company led by Michael Saylor, has invested hundreds of millions of dollars in Bitcoin. Even if the price of the currency is far from its historical maximum.

In fact, one of the companies with the highest profits has managed to accumulate thanks to the bullish rally of Bitcoin. When the other traditional companies seem to have not reacted yet.

By way of closing, Bitcoin has revolutionized the financial world. Not only to companies and investors, but even to countries, what do you think about it? Let us know in the comment box.

I say goodbye with this phrase from Tim Draper: «Accept Bitcoin as a national currency and companies will come alone».



[ad_2]

, Bitcoin is at a discount, but institutions have not reacted, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Bitcoin is at a discount, but institutions have not reacted, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More