Why Bitcoin is growing so rapidly? The answer experts

If you spent long time in isolation from the Internet, there’s good news: Bitcoin has passed the stage of the uptrend. The cryptocurrency is steadily growing the past few months. While on the way up asset managed to break through several important resistance levels. By the way, to whom do we owe for all this?

Many experts agree in opinion that the rise in price of BTC was due to the growth of interest in the crypt by institutional investors. They are prepared to invest huge capital in the digital assets and are already looking for possible ways to do this with the help of new instruments from Fidelity Digital Assets.

Say thank you to the sharks

Tonight, Bitcoin is trading at 9308 dollars, over the past day the price is main of bitcoin has grown 1.9 percent. The path of coins to the current market price was long enough. First, BTC was able to gain a foothold above $ 4,000, and then after a period of consolidation to break the resistance level of $ 5,000. It was then that chief analyst at Fundstrat Tom Lee publicly announced the beginning of a new bullish trend.

The CEO of Genesis Global Trading Michael Moreau explained what that condition was triggers the growth of crypto currencies in a certain period of time.

First time Bitcoin broke the $ 9,000 level in November 2017. This breakthrough rates were the result of high demand from conventional investors, especially with Asia. Also do not forget about the hype around ICO. This time the money of institutional investors play a much bigger role in the growth of Bitcoin. Proof — record volumes in trading Bitcoin futures on CME.

When will the hype?

In the past, when Bitcoin was still not so popular, all uptrend chart on cryptocurrency was formed solely because of investor demand-lovers. Now to the race, I joined the fat cats and large organizations, so coming bullrun could be the biggest in the history of Bitcoin.

Bitcoin has grown three times since the beginning of the year and very few people paid attention. Last query statistics in Google Trends was so low, when Bitcoin was trading around $ 2,000. Then, the cryptocurrency has managed to grow almost ten times. The price movement of similar scale will make the price of the asset is six.

By the way, his contribution to the growth of Bitcoin has also made and members of our cryptodata of hontarov.

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