The market seemed to have shrugged off the time when Bitcoin’s bubble burst in 2019 after it catapulted to a record high of over $19,000 in December 2017. Back then, the price tumbled and plummeted over the course of 2018, before arriving at a low of $3,000 in early 2019. Fast forward till today, the market is abuzz with a bullish sentiment on Bitcoin and the wider crypto market.
Wealthy family offices that represent high net worth individuals make up the institutional investors that want ways to invest in crypto while still being covered by the same protections offered by more traditional markets. They could not help but notice the growing mainstream acceptance of cryptocurrency, and they want to be part of it.
“The market has matured to the point where it is now an attractive investment proposition for mainstream institutional investors,” says Ville Oehman, fund manager at Helvetic Investments. He’s right. Just look back at June 17th, when open interest at CME Bitcoin Futures saw 5,311 contracts totalling 26,555 BTC or $246 million. It dwarves the volumes in the 2018 price peak.
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