News: Was The Bitcoin Rally to $14,000 Catalyzed by Institutions?

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Full credits for this video to NewsBTC who listed the info in this video on an article on their website:
https://www.newsbtc.com/?s=Was%20The%20Bitcoin%20Rally%20to%20%2414%2C000%20Catalyzed%20by%20Institutions%3F

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Transcript:

0:00:00 Was The Bitcoin Rally to $14,000 Catalyzed by Institutions?

0:00:05 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.

0:00:11 The Bitcoin price has been on an absolute tear of the past year.

0:00:15 Despite the cryptocurrency currently trading some 20% lower than its $14,000 year-to-date high, BTC is still up some 200-odd% since January 1st.

0:00:26 Retail investors are what many first looked to.

0:00:29 You see, in 2017, Bitcoin’s move from $1,000 to $20,000 was widely believed to be a byproduct of retail FOMO, with mom & pop investors across the globe siphoning billions into the market as they saw news headlines mentioning BTC.

0:00:45 But, the retail theory was widely disregarded when the industry discovered that Google Trends results for the “Bitcoin” term were still in bear market levels, implying another group is at work.

0:00:55 This group, according to more and more sets of data and anecdotal evidence, is institutional players.

0:01:01 Who Led the Bitcoin Rally?

0:01:03 For some reason or another, the cryptocurrency community has found a home on Twitter.

0:01:08 Thus, many data firms and analysts have found that it makes sense to use social media data and volumes to paint a picture of the cryptocurrency market.

0:01:16 In a recent Twitter post, a multi-faceted crypto data platform, The TIE, explained why it believes Twitter is showing that Bitcoin’s rally from $3,150 to $14,000 in the past eight to nine months is a byproduct of institutional investment.

0:01:32 As tweet volumes are not rising as fast as market cap, an increasing NVTweet ratio may reflect increasing institutional investment in crypto.

0:01:40 The TIE writes that this means that “Bitcoin was trading at its highest multiple of tweet volume ever recorded”.

0:01:46 They claim that this, coupled with the fact that tweets about the cryptocurrency have been slow to increase in frequency, is a sign that retail isn’t as influential in this rally as in 2017, implying institutions are driving BTC.

0:01:60 Thanks for checking out this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.

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COMMENTS (1)

  • comment-avatar
    notachitab1976 September 5, 2019

    I love your style =)