Cryptocurrency Market Predicted to Enter Multi-Year Bull Cycle | Insights from Bitwise CEO Matt Hougan
The founder of the Binance cryptocurrency exchange, Changpeng Zhao, suggested that institutions pay attention to cryptocurrencies.
A study of Binance, one of the largest cryptocurrency exchanges, showed that new institutional investors are coming into the industry, which may affect the rise in Bitcoin prices.
According to analysts, a significant number of new investors are entering the market, which have a large amount of funds.
Founder of the Ikigai cryptocurrency hedge fund Travis Kling believes that a small group of wealthy traders can push the Bitcoin rate to new heights.
Kling based on data from its own analysis and information from other institutional investors. In his opinion, there is a small group of "risky whales", which caused the recent take-off of the first cryptocurrency course.
President and Chief Operating Officer of Coinbase Asiff Hirji said that institutional investors who have short-term goals, it is better not to touch cryptocurrency.
During his speech on CNBC, Hirji stressed that his company warned investors to be cautious during the period of explosive growth of Bitcoin back in 2017, but many cryptocurrency enthusiasts did not heed the warning.
The well-known Bitcoin-optimist and former hedge fund manager Michael Novogratz, who previously assumed the price movement of Bitcoin to new historical heights until the end of 2018, revised his forecast.
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