Analysts at the CrossTower crypto trading platform said that the interest of large investors in the first cryptocurrency will continue to keep the asset price above $ 50,000.
According to the latest report, the number of wallets with over 1,000 BTC has increased significantly in recent weeks. CrossTower strategist Martin Gaspard is confident that this confirms the willingness of investors to buy the first cryptocurrency, despite the high price.
“Many institutions enter the industry with plans to buy and hold Bitcoin, treating it as digital gold. In the January fall in prices, investors saw an opportunity to buy an asset, ”the expert added.
On February 21, the price of the first cryptocurrency reached $ 58,000. On February 23, the bitcoin rate hit $ 45,000. At the time of writing, the asset is trading at $ 50,600. The market capitalization of digital gold is $ 942 billion, according to CoinGecko.
Indian Warren Buffett warned of a severe hangover today following the bullish rally of the first cryptocurrency. Rakesh Junjhunwala is convinced that the “bitcoin party” will end miserably for its participants.
Earlier, JPMorgan called on to forget about digital gold in favor of fintech and called the first cryptocurrency an “economic attraction”.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
