Hello dear readers, this time I will be sharing contextualized information on how US institutions account for 85% of Bitcoin purchases, which is a very positive sign for the health of the cryptocurrency market.
The above is supported by statements from the financial services firm's head of research and strategy (Matrixport), who told Cointelegraph that the evidence shows institutions are not "giving up on cryptocurrencies, which is an indicator that we could be entering a new bullish cryptomarket.
The data was shared in a Jan. 27 report from Matrixport, which suggests that you can distinguish whether a digital asset is more favored by retail or institutional investors at any given time based on whether that asset is performing well in the U.S. or in Asian trading hours.
The report stated that if an asset that trades 24 hours performs well during U.S. trading hours, it indicates that it is being bought by U.S. institutions.
Whereas an asset that experiences growth during Asian trading hours indicates that it is being bought by Asian retail investors. This should be a very positive sign for Bitcoin as institutional adoption continues.
SOURCES CONSULTED
Cointelegraph US institutions account for 85% of Bitcoin buying in ‘very positive sign’ — Matrixport. Link
OBSERVATION:
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Greetings @lupafilotaxia, no matter how many restrictions you want to impose on the cryptocurrency market to prevent its expansion and consolidation you will not be able to achieve it, as it is increasingly demonstrated that its growth and sustainability over time is very strong.
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Hi @carlir
That's right, the growth and sustainability of the cryptocurrency market over time is very strong.
Best regards, be well.
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Good to see that institutional investors has a big interest in crypto currency and on the basis on that we can expect that 2024 will be the biggest year of crypto. Thanks for information.
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Hi @luckyali.writes
That's right, and even though those investors are mostly from the US the situation can still stabilize.
Best regards, be well.
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