{"id":386787,"date":"2019-06-19T22:00:15","date_gmt":"2019-06-19T22:00:15","guid":{"rendered":"https:\/\/wncen.com\/?p=386787"},"modified":"2024-06-11T13:44:22","modified_gmt":"2024-06-11T13:44:22","slug":"analyst-institutions-are-behind-bitcoins-recent-bullishness-will-individuals-enter-next","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-institutions-are-behind-bitcoins-recent-bullishness-will-individuals-enter-next\/","title":{"rendered":"Analyst: Institutions Are Behind Bitcoin\u2019s Recent Bullishness; Will Individuals Enter Next?"},"content":{"rendered":"
Bitcoin and the aggregated crypto markets have been in a firm uptrend for the past several months and BTC has put a significant amount of distance between its current prices and its year-to-date lows of well below $4,000.<\/p>\n
Analysts now agree that Bitcoin\u2019s recent bullishness has not been driven by individual investors and has rather been the result of institutional investors<\/a> flooding into the markets through newly established gateways, like the one offered by Fidelity Digital Assets.<\/p>\n At the time of writing, Bitcoin<\/a> is trading up nominally at its current price of $9,140, up slightly from 24-hour lows of $9,000.<\/p>\n BTC\u2019s journey upwards first began after Bitcoin fell to its previously established 2018 lows in February of this year, when it briefly touched the lower-$3,000 region before quickly climbing towards $4,000.<\/p>\n After this, the cryptocurrency consolidated and slowly climbed upwards until early-April, which is when BTC incurred a sudden influx of buying pressure that sent it surging to $5,000. From here its ascent turned parabolic, leading it to recently established year-to-date highs of $9,400.<\/p>\n Many analysts and investors alike have been speculating as to what (or who) could be behind the recent influx of massive buying pressure, and one analyst is now explaining that he believes institutions are the prime suspect.<\/p>\n \u201cThe first time Bitcoin crossed the $9,000 mark was in November 2017. That price movement was largely driven by international retail demand – South Korea, for example – in addition to hype around initial coin offerings. This time around, however, we believe that institutional money is playing a much bigger role than it did in 2017, which is evidenced by CME\u2019s record of futures volumes,\u201d Michael Moro, CEO of Genesis Global Trading, explained in a recent email to MarketWatch<\/a>.<\/p><\/blockquote>\nBitcoin Surges on The Backs of Institutions<\/strong>\u00a0<\/strong><\/h2>\n
When Will Individuals FOMO into BTC?<\/strong><\/h2>\n