Lou Kerner, a partner at Crypto Oracle and a former analyst at a major Goldman Sachs, said the BTC could reach a new price level without the support of institutional investors, which many have hoped for.
As part of his speech at the Power Lunch (CNBC) program, Kerner explained that BTC cryptocurrencies do not need institutions in order to develop and rise in price even more – the analyst notes that most of the rally in the market was provoked by retail investors. Moreover, Kerner calls institutionalists followers, not pioneers.
Despite the fact that Kerner does not bet that institutions will significantly affect BTC in the future, he noted the influence of investors on the price rally from $ 3,500 $ 14,000 this year. According to data from the analyst firm TokenAnalyst, retail investors were not as active in this rally as in 2017. In addition, it became known that the number of addresses that send BTC funds to Bitfinex fell to a two-year low, on the Binance platform, the same indicator dropped to the level that was relevant at the beginning of 2018.
