Bitcoin Explodes To All Time High After Tesla Buys $1.5 Billion – Forex, Stock Market, Gold & Silver
Bitcoin is in a bullish trend thanks to large investors
Bitcoin started to grow on “smart money”
The increase in large transactions is due to new investors, not the old whales
Asian Market Shows Increased Interest in Digital Assets
The price of the largest cryptocurrency by capitalization is growing amid a sharp inflow of capital from institutional investors
Bitcoin’s rise above the $ 15,000 level is the result of the activity of large investors. At least that’s what cryptocurrency analyst Willie Wu thinks. On his Twitter page, Wu wrote that the price activity of the largest cryptocurrency by market capitalization correlates with the influx of “smart money” – capital regulated by institutional investors and large funds.
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Nevertheless, Bitcoin is still in an imperceptible phase of a bullish trend, he said..
“You can see how the average cost of a transaction between investors rises sharply,” Wu writes..
Even more optimistic indicators, according to the analyst, is the indicator of the influx of new investors. New Investor Rate Jumps To 2-Year High Since October.
Influx of whales
Thus, the bitcoin market is actively receiving capital from new wealthy investors, and not previously entrenched giants like MicroStrategy (which bought bitcoin for almost half a billion dollars) or Grayscale (which now manages assets worth more than $ 9 billion). Notably, the influx of “new smart money” coincided with the recent announcement of the large financial holding Fidelity to expand its cryptocurrency services to wealthy investors and family foundations..
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Recall that at the end of October, the cryptocurrency-focused division of Fidelity Digital Assets announced a partnership with the Singapore-based company Stack Funds, focused on cryptocurrency custody services. Then the head of Fidelity Digital Assets Europe said that in the Asian market “there is an urgent need for platforms that have a deep understanding of what local and regional investors are looking for [what] has historically been lacking in the digital asset space.”.
Meanwhile, the rise in the price of bitcoin during the presidential election in the United States has already led to the fact that this year bitcoin outstripped gold in terms of payback. BeInCrypto previously reported that the Bloomberg Galaxy Crypto Index, which focuses on cryptocurrencies, grew by about 120% in 2020, more than four times the growth of gold..
At the time of this writing, the price of BTC / USDT is $ 15,328.
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