What can kill Bitcoin? The biggest threats analyzed with conclusion.
In three months, the number of bitcoin holders increased by 20%
Retail investors are increasingly becoming hodlers
Institutional investors trust bitcoin more than gold and silver
Hodlers are confident that the price of bitcoin will not exceed $ 15,000 by the end of the year
Recent surveys on the cryptocurrency market conducted by the Bitcoin IRA platform show that the number of Bitcoin hodlers has increased by 20% compared to June this year..
Investor optimism promises a bright future for bitcoin
Research conducted by analysts of the Bitcoin IRA platform shows that investor sentiment regarding Bitcoin and other cryptocurrencies is improving, and the number of coin hodlers has already increased by 20% compared to June this year..
Source: Bitcoin IRA
The research results also show that investors are much more interested in buying cryptocurrency for long-term storage due to concerns about high fiat money inflation and excessive global debt caused by the pandemic. Other assets not tied to the US dollar, such as gold and silver, also sparked increased investor interest. According to the survey, the number of respondents interested in investing in gold or silver has increased by 12% since June.
Interest in earning income while storing cryptoassets has also grown significantly, primarily due to staking, as this service has become very popular since the onset of the coronavirus crisis. Despite the popularity of Bitcoin, as well as the growing price of gold and silver, investor interest is focused on the Link coin, the coin of the Chainlink project. Over 35% of all respondents are interested in investing in this project.
As for the prices of bitcoin, the vast majority of respondents are inclined to believe that the price of the coin will fluctuate between 10,000 and 15,000 dollars by the end of the year..
Source: Bitcoin IRA
In Bitcoin we trust
It’s worth noting that it’s not just retail investors who are investing more in cryptocurrencies. The same trend can be seen in the institutional market..
A study by the OKEX crypto exchange and the Catallact company revealed a certain pattern – the number of institutional investments increases sharply immediately after the statements of large funds about investing in cryptocurrency.
In May 2020, a well-known macroinvestor Paul Tudor Jones announced that his fund will invest in BTC futures to protect assets from inflation. Immediately after Jones’ speech, the media reported that Nasdaq-registered business analytics company MicroStrategy acquired 21,454 BTC worth more than $ 250 million to protect its coffers from fiat inflation..
This caused a surge in institutional investment in the market. Catallact cites statistics that in June-August 2020, the number of large transactions in MTC, from 5,000 to 10,000 BTC, increased.
In addition, many institutional investors are looking for a rescue from currency inflation in bitcoin futures. In early September, open interest on CME reached a new high of $ 841 million. As a reminder, futures contracts allow traders to buy and sell an asset at a specific price in the future. In the case of Bitcoin futures, investors can speculate on its price without actually buying BTC itself..
Unregulated exchanges like BitMEX or Binance continue to attract more investors than CMEs. However, the latest Skew data shows that regulated exchanges are rapidly catching up with their unregulated counterparts..
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