On CNBC, Lou Kerner, partner at Crypto Oracle Foundation and former Goldman Sachs analyst, said Bitcoin (BTC) could skyrocket to a new high without the support of institutional investors.
According to the financier, the previous phases of the aggressive growth of the first cryptocurrency came due to the activation of retailers. Institutionals join Bitcoin, but they are far from the first and leading players in this market.
However, the analyst nevertheless acknowledged that if large investors do not invest in bitcoin, then the stage of more active implementation of the coin in the global market will be significantly delayed.
Already this year, the dynamics of the mass entry of institutionalists into Bitcoin was recorded. It was with this fact that Kerner linked the growth of the coin from $ 3,500 to $ 13,800 during the current year. True, then there was a negative trend caused by the weakening of the BTC.
According to the CME platform, bitcoin futures trading has fallen to a minimum over the past few months. Trading volumes declined due to the exit of many institutional investors from the largest cryptocurrency.
Publication date 09/29/2019
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