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.