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After Coinbase s Blockbuster Debut, What Investors Say It Means for Cryptocurrency Markets

After Coinbase s Blockbuster Debut, What Investors Say It Means for Cryptocurrency Markets
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Soaring Bitcoin Attracts Retail Investors To Crypto

The recent surge in the bitcoin value has gained the attention of retail investors in the market of cryptocurrency. Several Cryptocurrency exchanges are witnessing a rapid increase in crypto market activities recently, as the crypto market is increasingly attracting a greater number of investors. Michael Bucella, a partner at one of the leading cryptocurrency investment firms, Block Tower Capital, believes that the market data indicates a recent increase of retail investors in the crypto market. To know more about this you can visit Crypto Engine website. According to the Bitcoin bulls, the current rally of the cryptocurrencies is dissimilar to the one that occurred towards the end of 2017. During that time, bitcoin’s value rose dramatically to $20,000 before it shrunk to a low of $3,122 during the next year. The distinguishing factor of this rally, however, is the fact that this price rally is backed by institutional investors.

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Bitcoin s Value Nears USD 50,000 Notch, Leapt 20 Percent on Monday - Novinite com

Send to Kindle Bitcoin was fast approaching the $50,000 mark on Tuesday as the afterglow of Elon Musk-led Tesla s investment in the cryptocurrency had investors reckoning it may become a mainstream asset class for both corporations and money managers. The most popular cryptocurrency has gained 1,150% from March 2020 lows as institutional investors search for alternative wealth stores and retail traders ride the wave. It traded at a few hundred dollars only five years back. Monday, it leapt 20% after Tesla announced it had a $1.5 billion investment and that it would eventually take the cryptocurrency as payment for its cars. That was its largest daily rise in more than three years.

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Bitcoin rockets to new highs as Tesla takes it mainstream

Bitcoin extended gains on Tuesday to a record high as the afterglow of Tesla Inc's investment in the cryptocurrency had investors reckoning it would become a mainstream asset class for both corporates and money managers.

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Bitcoin rockets to new highs as Tesla takes it mainstream - Business

This June 17, 2014 photo taken in Washington, DC shows bitcoin medals. AFP/File Bitcoin extended gains on Tuesday to a record high as the afterglow of Tesla Inc’s investment in the cryptocurrency had investors reckoning it would become a mainstream asset class for both corporates and money managers. Bitcoin has more than doubled over two months as institutional investors search for alternative wealth stores and retail traders ride the wave. Monday’s leap after Tesla’s announcement was its largest daily rise in more than three years. It traded at a record high of $48,216 late in the Asian afternoon on Tuesday. Rival cryptocurrency ethereum had made a record high of $1,784.85 in the early morning.

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