2021-03-14 Insider - A new wave of institutional interest has boosted bitcoin

bbc.reporter

legendary

Activity: 3122

Merit: 1492

Quote from: acquafredda on March 17, 2021, 12:00:05 PM

Quote from: bbc.reporter on March 15, 2021, 09:56:32 PM

Quote from: acquafredda on March 15, 2021, 03:58:51 PM

Are you waiting for a big burst to buy lower or do you simply want bitcoin to fall lower than this? I do not understand your point view because whenever I post an article you often talk about a bubble than need to burst. Is the bbc preventing you to buy btc? Grin

Are you telling me that there is no bubble? I am only saying that we should be ready for the bear market. We should be realists because there will always be those people who will buy on the all time high only to see their investment lose money.

@BayAreaCoins. Agreed. The mempool has never been always this high with unconfirmed transactions before.

I do not thinke there is (maybe just yet). It is not about Willy on Bitfinex anymore, the market is too big to have that kind of sheer manipulation that could definitely lead to a bubble. As long as I see so many buyers, no, I do not see a bubble. Biased? maybe.

You should certainly reconsider. Leverage and now presently debt is bringing bitcoin to all time highs. How can something with very low utility pump from $3000 to $60,000 in only 1 year?

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: Oceat on March 22, 2021, 06:08:35 PM

Where are they when the price is around $10k? Although Elon Musk didn't bother with what's price he will buy, he just bought it straight even if the price is beyond the last ATH. Hopefully, these new wave of investors continue to support Bitcoin along the way when the price would eventually reach to $100k.

Welp, even if they don't buy/invest in Bitcoin when the price is a little cheaper compared today, it's their choice and we can't do anything about it when they join the bandwagon of the large institutional investors.

Do you really think that he isnt aware when bitcoin was still cheap or lets say 10k price point value? Its impossible to think that billionaires arent updated when it comes to finance industry which would naturally
include crypto marketplace.It is just he do made out decision on that particular time and he might thought to himself that he wont be missing out those chances that he missed out in the past (these are just assumptions)

We dont know on whats inside of Elon's mind but they wont really reached out that certain rank or position in life if they arent that wise when it comes to investment.

Traditional investors are still hesitant as of this moment and when they do saw that their colleagues had already made some move then they are gradually
making the same steps now.

Oceat

sr. member

Activity: 2506

Merit: 368

Where are they when the price is around $10k? Although Elon Musk didn't bother with what's price he will buy, he just bought it straight even if the price is beyond the last ATH. Hopefully, these new wave of investors continue to support Bitcoin along the way when the price would eventually reach to $100k.

Welp, even if they don't buy/invest in Bitcoin when the price is a little cheaper compared today, it's their choice and we can't do anything about it when they join the bandwagon of the large institutional investors.

sunsilk

hero member

Activity: 3038

Merit: 634

Speaking of interest, there's one known guy in the Wall Street that has changed his heart towards bitcoin. Before, he's a known anti-bitcoin guy but now he predicts it going to $100k.

Article link: ‘Wolf of Wall Street’ Jordan Belfort Predicts Bitcoin Hitting $100K

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: BayAreaCoins on March 15, 2021, 04:01:58 PM

The people that don't need Bitcoin are buying it and the people who need Bitcoin can't afford it. ("Poor" can't afford to buy it or send it... No one wants to pay $20 to move $100)

A few days back, I paid $2 to move my BTC. Unless you are paying with BTC in some coffee shop or restaurant, there is no need for instant confirmation. You can set transaction fee to 11 Sat/Byte or 21 Sat/Byte and get your transaction confirmed within 2-3 hours. Those who are purchasing Bitcoin can definitely afford to wait a few hours to get the transaction confirmed. And I checked the last block that was mined (#675774). Even transactions with a fee of 12 Sat/Byte were included.

Majormax

legendary

Activity: 2534

Merit: 1129

Quote from: Theb on March 14, 2021, 03:41:30 PM

The way I see it is they aren't really that interested in the crypto industry in the first place but they saw that some other companies took the opportunity way ahead of them that is why they shifted their heads on the competition. Companies like Grayscale, CoinShares, and BlockFi are all centered in the investment side of cryptocurrencies and I think it bothers them that they aren't part of it and this is also a threat for them as some of their high risk-tolerant clients might be shifting their money away from their company which may have probably begun that is why they are taking actions now. Huge loss for them not pioneering the crypto industry in terms of investment but it is good news for us that they are also here to take part of.

Yes. That is an effect which has become peculiar to the Investment Industry.

It is of course related to Index/Sector tracking funds: Once competitor funds start generating higher returns from a sector, there is pressure on their competition to acquire a weighting. Not just because they expect profits, but also because they need to fall in line with their immediate competitors (in this case the more maverick funds) so as not to attract criticism in case they miss something important.

estenity

hero member

Activity: 1924

Merit: 538

VISA comes to BTC

https://www.btctimes.com/news/visa-plans-to-enable-bitcoin-purchases

acquafredda

legendary

Activity: 1316

Merit: 1481

Quote from: bbc.reporter on March 15, 2021, 09:56:32 PM

Quote from: acquafredda on March 15, 2021, 03:58:51 PM

Are you waiting for a big burst to buy lower or do you simply want bitcoin to fall lower than this? I do not understand your point view because whenever I post an article you often talk about a bubble than need to burst. Is the bbc preventing you to buy btc? Grin

Are you telling me that there is no bubble? I am only saying that we should be ready for the bear market. We should be realists because there will always be those people who will buy on the all time high only to see their investment lose money.

@BayAreaCoins. Agreed. The mempool has never been always this high with unconfirmed transactions before.

I do not thinke there is (maybe just yet). It is not about Willy on Bitfinex anymore, the market is too big to have that kind of sheer manipulation that could definitely lead to a bubble. As long as I see so many buyers, no, I do not see a bubble. Biased? maybe.

bbc.reporter

legendary

Activity: 3122

Merit: 1492

Quote from: acquafredda on March 15, 2021, 03:58:51 PM

Are you waiting for a big burst to buy lower or do you simply want bitcoin to fall lower than this? I do not understand your point view because whenever I post an article you often talk about a bubble than need to burst. Is the bbc preventing you to buy btc? Grin

Are you telling me that there is no bubble? I am only saying that we should be ready for the bear market. We should be realists because there will always be those people who will buy on the all time high only to see their investment lose money.

@BayAreaCoins. Agreed. The mempool has never been always this high with unconfirmed transactions before.

BayAreaCoins

legendary

Activity: 4004

Merit: 1250

Owner at AltQuick.com

The people that don't need Bitcoin are buying it and the people who need Bitcoin can't afford it. ("Poor" can't afford to buy it or send it... No one wants to pay $20 to move $100)

acquafredda

legendary

Activity: 1316

Merit: 1481

Are you waiting for a big burst to buy lower or do you simply want bitcoin to fall lower than this? I do not understand your point view because whenever I post an article you often talk about a bubble than need to burst. Is the bbc preventing you to buy btc? Grin

bbc.reporter

legendary

Activity: 3122

Merit: 1492

Quote from: acquafredda on March 14, 2021, 12:26:56 PM

Quote

Bitcoin regained its composure this week to jump to a record high above $60,000, with many analysts pointing to a new wave of institutional interest as the driver.
Goldman Sachs restarting its crypto desk, JPMorgan launching a "crypto exposure" product, and crypto firm NYDIG raising money from Morgan Stanley and others are the latest signs of growing interest in bitcoin.
Skeptics argue that bitcoin is too volatile for investors to start buying in any meaningful quantities and has next to no use value, putting it in line for another collapse.
But a rising number of firms are testing the crypto-waters. Bitcoin enthusiasts argue that "this time is different" for the world's biggest cryptocurrency, because big-name firms are supporting the price and lending legitimacy to the project.

https://markets.businessinsider.com/currencies/news/bitcoin-btc-institutional-interest-cryptocurrencies-wall-street-tesla-microstrategy-jpmorgan-2021-3-1030194067

A nice recap of what happened lately in the bitcoin / institutional investors world. Among the plethora of nonsensical articles that can be found in the MSM this one is quite good.

The optimistic news certainly gives a nice feeling when we read them, however, we should not let our awareness on the market decline. Enjoy the price pumps but be ready for the bear that pounces without announcement.

Market bubbles have always been created and have always later burst in time.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

I didn't read it fully, but I didn't see written a word about the Stimulus bills both Trump and Biden came with, which weaken the actual value of US dollar and which may have been one of the causes more institutions and individuals turned towards Bitcoin.
I think that it's something that could fit well into the article. But overall, it's a good read (and I've bookmarked it for a closer look).

Theb

hero member

Activity: 1680

Merit: 655

The way I see it is they aren't really that interested in the crypto industry in the first place but they saw that some other companies took the opportunity way ahead of them that is why they shifted their heads on the competition. Companies like Grayscale, CoinShares, and BlockFi are all centered in the investment side of cryptocurrencies and I think it bothers them that they aren't part of it and this is also a threat for them as some of their high risk-tolerant clients might be shifting their money away from their company which may have probably begun that is why they are taking actions now. Huge loss for them not pioneering the crypto industry in terms of investment but it is good news for us that they are also here to take part of.

LeGaulois

copper member

Activity: 2940

Merit: 4101

Top Crypto Casino

Hopefully, this wave of investors coming continues at least for the short and medium-term, otherwise, the hype can fade quickly and the price will surely drop ^^

As for the persons thinking Bitcoin is too volatile to attract investors, I would say that's instead a pretty attractive point. If they invest, it's to generate profits, and it's with the volatility that you can make money.
It's not by investing in a stablecoin that they can generate profits.

I don't worry about the "meaningful quantities" when they will the potential money to make they will spend a good amount of money on BTC.
Tesla bought at a pretty high price and it was not so long ago. How much they own now in $$$

acquafredda

legendary

Activity: 1316

Merit: 1481

Quote

Bitcoin regained its composure this week to jump to a record high above $60,000, with many analysts pointing to a new wave of institutional interest as the driver.
Goldman Sachs restarting its crypto desk, JPMorgan launching a "crypto exposure" product, and crypto firm NYDIG raising money from Morgan Stanley and others are the latest signs of growing interest in bitcoin.
Skeptics argue that bitcoin is too volatile for investors to start buying in any meaningful quantities and has next to no use value, putting it in line for another collapse.
But a rising number of firms are testing the crypto-waters. Bitcoin enthusiasts argue that "this time is different" for the world's biggest cryptocurrency, because big-name firms are supporting the price and lending legitimacy to the project.

https://markets.businessinsider.com/currencies/news/bitcoin-btc-institutional-interest-cryptocurrencies-wall-street-tesla-microstrategy-jpmorgan-2021-3-1030194067

A nice recap of what happened lately in the bitcoin / institutional investors world. Among the plethora of nonsensical articles that can be found in the MSM this one is quite good.

Topic: 2021-03-14 Insider - A new wave of institutional interest has boosted bitcoin (Read 189 times)