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Institutional interest is still high despite BTC price sentiment 

Institutional interest is still high despite BTC price sentiment 
  • When you compare how bitcoin and its price sentiment was earlier this year in July and August, the tide has changed as we enter September, no doubt.
  • Currently priced at just above the $10,000 mark at the time of writing, many analysts had predicted that bitcoin would break out above $12,000 at some point in the last two months.

When you compare how bitcoin and its price sentiment was earlier this year in July and August, the tide has changed as we enter September, no doubt.

Currently priced at just above the $10,000 mark at the time of writing, many analysts had predicted that bitcoin would break out above $12,000 at some point in the last two months but currently, leading Cryptocurrency is having a tough time just staying above the $10,000 key resistance level.

Combined with Fiat money and its expansion in the traditional market, the last two months have seen bitcoin to be one of the attractive assets when it comes to store of value. Even though the volatility of this has turned some investors away from getting involved with cryptocurrency, one analyst who goes by the name of Willy Woo has said that more institutional investors are getting increasingly invested with their holdings of bitcoin.

The analyst further said:

“Many look at the BTC price and doubt it’s a hedge. High net worth individuals and funds certainly consider it to be true and betting on that with real money. Since this latest round of USD money supply expansion, entities have increased their holdings on BTC remarkedly.”

The future of Cryptocurrency, and specifically bitcoin, is uncertain in the current market. It’s hard to say where bitcoin will go in the next few weeks and months but we are confident that it’s something you should keep an eye on.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

 

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