Bitcoin (BTC), as U.S. stock markets surged this week, did not depreciate quite surprisingly.
The current situation in the global markets
The Dow Jones Industrial Average fell by more than 3 percent this week. Dow Jones lost his profits with the latest sales this week. Then he took back part of this decline. Nasdaq also fell above 2 percent in the process. Fear of the ongoing trade war and rising interest rates have also been added to the sales price. But bitcoin’s constant stance on the market surprised everyone. Bitcoin was down 0.7 percent this week, and 2.7 percent in the last two weeks.
In early October, the uncertainty in the stock markets reflected in crypto money, as Dow fell by 1,300 points in two days, reaching its highest selling volume since February. Bitcoin fell by 6 percent, while crypto lost $ 18 billion worth of money. Investors panic sales, in October, caused 5 trillion dollars in the stock and bond markets.
The wave of sales in global markets no longer affects the price of Bitcoin (BTC)!
When the markets were consolidated in early February, Bitcoin lost more than 33 percent of its value in two days, dropping below $ 9,000 in 24 hours to $ 6,000. However, the leading crypto currency appears to be entering a new era with lower volatility and less price changes.
The wave of sales in global markets was always negatively affecting Bitcoin. However, this time the situation is different. Brian Kelly, founder and CEO of BCC, states that the crypto currency investors are now separated from what is happening in larger markets. Kelly says the thing is,:
I don’t know anyone who says I’d better sell Bitcoin to protect my investment.
Institutions increasingly embrace the new class of assets
Sales in bitcoin have slowed down, and according to Kelly, Bitcoin seems to have found its price base at $ 6,000. Kelly said that individual investors are now tired, adding that the market expects institutional investors to come in. And according to analyst, corporate investors are coming to the sector, but slowly.
Institutions are increasingly adopting the new class of assets. Fidelity Investments has launched a storage solution that many investors consider to be a missing factor for corporate buyers. Meanwhile, big donors like Yale are already investing in crypto money and blockchain.