Bitcoin's Price Surge Propelled by Institutional Investors

1 Min Read
245 Words

Direct from the desk of Dane Williams.

Market Bites

What: Bitcoin is today trading at a 35 month high, at $18,300.

How: On-chain data shows bitcoin is rallying amid a strong holding sentiment in the investor community.

Why: Bitcoin's "rich list" hits an all-time high alongside the meteoric price rally. The data validates claims of increased institutional participation.

Crypto Crumbs

Bitcoin's ongoing price surge has seen its market cap reach nearly $335 billion, surpassing that of some of the world's largest companies - Including Mastercard!

According to blockchain analytics firm Chainalysis, institutional investors have propelled the price of Bitcoin upwards by causing a supply drought, a fact borne out by a number of surveys carried out in recent months.

In September, crypto insurance firm Evertas found that 90% of US and UK institutional investors surveyed planned to increase their focus on crypto assets in the next five years.

Chart of the Day

Bitcoin Weekly:
Screen Shot 20201121 at 9.33.46 am.png

The only support/resistance zone that matters is the all time highs.

In 2018 when we had to back up our 2017 "buy Bitcoin" calls at a price 75% lower than Christmas the year before, who would have thought we'd be here today.

Enjoy telling that random great uncle that you told him so.

Best of probabilities to you,


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