Bitcoin: Big investors are buying the bitcoin in the fall

  • And
  • +A

While the stock market until the end is not defined with the further movement, another “bitcoin whale,” bought the reference cryptocurrency $335 million, becoming the No. 3 holder of an asset with total portfolio 99.797 BTC or almost $1 billion For the last time this is the second major purchase. Such events may indicate the confidence of big capital in the achievement of bottom of the market and the turn to growth in the short or medium term.
Also, there has been another new trend of mergers and acquisitions. In particular, it became known that the payment platform Circle, which was funded by Goldman Sachs, bought the American exchange Poloniex. In the community the transaction is valued at approximately $400 million. the New owners plan to expand the functionality of the exchange, adding transactions with Fiat currencies.
While institutional investors enter the cryptocurrency market, the interest of regular users is decreasing. According to statistics from Google, number of search queries on the topic of bitcoin and ether fell to the levels of October 2017, which is probably connected with decrease rates. The recession hype – it is a healthy course of events, indicating the maturing of the market as a whole.
Seasonal cycles indicates the possibility of a new growth momentum for the summer, if unexpected significant events does not outweigh the seasonal surge.
According to CoinMarketCap, the cryptocurrency market is about values late last week. Bitcoin is trading around $10,300, but the basis for positive momentum start to form on the background of falling value of transactions, accelerating speed of the network, as well as after the release of Bitcoin Core 0.16.0 with full support SegWit.
_________
Alexander Kuptsikevich,
Financial analyst,
FxPro