Crypto Gains Institutional Interest During Bear Period

Published 5 years ago on October 22, 2018

Crypto Gains Institutional Interest During Bear Period

The best time to enter a market is when itâ€™s oversold, which is exactly what is happened with the crypto industry as it retains a yearly bearish pattern. With a recent drop, followed by some significant gains from a certain bottom area has upped medium-term bullish sentiments in the crypto market. The biggest cryptocurrency in the market, Bitcoin has reversed its downtrend on several occasions after testing a $250 wide area below $6,000 as strong support. The price action has led those with bullish attitudes to conclude that it would be impractical for the bears to crash Bitcoin below the $6,000 mark citing miners breakeven ROI. The growing number of hedge funds launched this year and has testified that there is a demand for crypto gateways amongst institutional investors. The endowments of several various high profile institutions including MIT, Harvard, Stanford and Yale universities to name a few have spread their risks into at least one digital currency fund. Â Â

Commentators often seem surprised when companies make moves, invest, or launch products during crypto bear markets. They then act confused when bull markets return. Â "Where did this come from?" they ask. Perhaps this is why they are commentators, rather than business people.
â€” Erik Voorhees (@ErikVoorhees) 16 October 2018

Big names are entering the crypto industry such as Mike Novogratz who is a well known Bitcoin supporter. Pantera Capital-fame founder, Dan Morehead invested in over 40 cryptocurrency related startups and is currently one of the biggest institutional owners of digital assets. And the list goes on. According to News BTC:

â€œGarry Tan, a prominent seed investor, stated that investors believe that Bitcoin is bottoming out and noted a â€œbuying-the-dipâ€ sentiment among prominent investors, majorly citing David Swensen, Yaleâ€™s Warren Buffet, who recently invested an undisclosed sum into two crypto-funds.â€

The current price of Bitcoin is $6,634 and is in the red with a 1.12% change over the past day. What are your thoughts? Let us know what you think in the comments down below!

Adrian Barkley

Adrian is an avid reader who first stumbled across Crypto after reading 'The Basics of Bitcoins and Blockchains' by Antony Lewis in 2018. Since then, Adrian has immersed himself within the industry, and has a real interest in Enterprise Blockchain solutions.