[2023-11-08] Motley Fool - This 1 Catalyst Could Send Bitcoin Soaring Back to...

pawel7777

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Quote from: cr1776 on November 09, 2023, 10:51:18 AM

"What makes this year's boom so remarkable is that it is not being driven by retail investors. "

Hopefully the smart retail investors are already well positioned for this. Who knows though. Plenty of peoplehad the knowledge and opportunity to get involved in bitcoin but few actually did anything and then end up regretting it.

That's because the "average joes" are not investors. Everyone who has been into Bitcoin for a while knows about market cycles and that we are ripe for the start of another bull-run soon. But an average person wouldn't even be thinking about crypto at all, until media start reporting on huge price movement, at that point they'd slowly start considering getting into it, just to finally buy when the market gets overheated.
People shouldn't really be putting any money into things they don't understand.
Lets see how how the market takeover by the institutional investors will pan out.

cr1776

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"What makes this year's boom so remarkable is that it is not being driven by retail investors. "

Hopefully the smart retail investors are already well positioned for this. Who knows though. Plenty of peoplehad the knowledge and opportunity to get involved in bitcoin but few actually did anything and then end up regretting it.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

I think it will be a combination of events that will be the catalyst for the "Boom" cycle in Bitcoin. BlackRock, amongst other large financial institutions, are currently awaiting a decision from the SEC on whether it can issue a bitcoin spot ETF and they are one of the leading financial investment groups out there.

Now, you also see that the conflict in the Middle East are pushing investors to look for something with a store of value and traditional investment options like property are not that attractive anymore.

They also know that the "Halving" are going to push up the price, so they want to profit from that.. before it is over. Wink

pawel7777

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Not really a mainstream press, but quite an interesting read from a few days ago.
If I'm not mistaken, The Motley Fool were strongly anti-Bitcoin in its earlier days (unless I'm confusing them with some other news portal), so it's good to see the shift in sentiment.

This 1 Catalyst Could Send Bitcoin Soaring Back to Its All-Time High of $69,000

https://www.fool.com/investing/2023/11/08/this-1-catalyst-could-send-bitcoin-soaring/

Quote

Institutional investors are suddenly very bullish on Bitcoin, and this change in sentiment could send Bitcoin soaring even higher into 2024.
There's a good reason why Bitcoin (BTC 1.00%) has earned a reputation as a tremendously volatile asset. It typically moves in dramatic boom-and-bust cycles, sometimes without any apparent rhyme or reason. After a huge "bust" year in 2022, when it lost 65% of its value, Bitcoin has entered a new "boom" phase and is up more than 110% for the year.

What makes this year's boom so remarkable is that it is not being driven by retail investors. Instead, the driving catalyst for this year's rally appears to be large institutional investors, many of whom are embracing Bitcoin for the first time. And that is leading to some tremendously bullish predictions about where Bitcoin could be headed next, including a potential rally back to its all-time high of $69,000.

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