April 21, 2024

BTC peaks even without institutional investors

BTC peaks even without institutional investors

Speaking on CNBC, Lou Kerner, partner of the Crypto Oracle fund and former Goldman Sachs analyst, said that Bitcoin(BTC) could soar to new highs without the support of institutional investors.

According to the financier, the previous phasesThe aggressive growth of the first cryptocurrency came due to the activation of retailers. Institutionals join Bitcoin, but they are far from the first and leading players in this market.

BTC peaks even without institutional investors

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However, the analyst nevertheless acknowledged that if large investors do not invest in bitcoin, then the stage of more active implementation of the coin in the global market will be significantly delayed.

Already this year it was recordeddynamics of mass entry of institutions into Bitcoin. It was with this fact that Kerner associated the growth of the coin from $3,500 to $13,800 during the current year. However, then there was a negative trend caused by the weakening of the BTC rate.

According to the CME platform, tradingBitcoin futures fell to their lowest level in months. Trading volumes declined due to the exit of many institutional investors from the largest cryptocurrency.

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