Growing institutional investors show great interest in Bitcoin. The fall of BTC / USD causes these institutions to use their cash reserves to buy Bitcoin.
Bitcoin has been following a highly volatile course since its half-life on May 12.
However, despite all, institutional interest in BTC is growing.
Another important event that occurred in the past two weeks is the separation of BTC / USD from the Dow Jones Industrial Average Index. And this change marks better.
Why is Bitcoin Suddenly Receiving Great Interest from Institutional Investors?
In fact, it is not new for Bitcoin to attract the attention of Financial Institutions. Financial Institutions have been collecting BTC for a long time already.
Research and brainstorming by institutional investors before any investment is enormous. For this reason, institutional investors have already started to research and buy Bitcoin (BTC). The only reason this news appeared in the press is that it received higher investment flows after splitting into BTC.
Is It Time To Rise For Bitcoin Now?
The simple answer is NO. Institutions’ investment does not mean that BTC / USD will rise. Institutions look to a longer term horizon for investment activities. And it’s no secret that Bitcoin will see an uptrend in the long run.
The falling BTC / USD is thought to be an excellent opportunity to buy Bitcoin. Institutions such as JP Morgan take advantage of every fall of BTC and buy small amounts of Bitcoin. The further decrease in prices offers institutions the opportunity to lower their averages.
If we look at the daily charts for the BTC / USD technical view, we can see that the supports are $ 8,913 and $ 8,299. The Relative Strength Index is neutral in the daily time frame. However, both the 20-day Simple Moving Average and the 20-day Exponential Moving Average are giving a buy signal on BTC / USD.