In what can be said to be an uneventful week for crypto, both bitcoin and ethereum has been acting rather ‘maturely’. Both only moving in a tight range of 5% in either direction. BTC and ETH went as low as US$41k and US$2.8k respectively with both currently trading at US$43.5k and US$3k. Nothing much to see here. Despite its tight range, an analyst at Deutsche Bank’s research division said she could imagine Bitcoin potentially playing the role of digital gold in the 21st century. However, she warned investors about the volatility of crypto asset as crypto purchases are made for investment and speculative purposes. Volatility is the heartbeat of trading. And in a vote of confidence, a recent survey has revealed that a new crop of institutional investors that are ready to go all out on cryptocurrencies. The survey noted that all of them has no prior exposure to crypto and revealed that as many as 62% of the respondents confirmed they will be making their first investment in the cryptocurrency ecosystem within the coming year. Hallelujah to that!
Pivot Point US$43k
Pivot Point US$43k
Pivot Point US$43k
In what can be said to be an uneventful week for crypto, both bitcoin and ethereum has been acting rather ‘maturely’. Both only moving in a tight range of 5% in either direction. BTC and ETH went as low as US$41k and US$2.8k respectively with both currently trading at US$43.5k and US$3k. Nothing much to see here. Despite its tight range, an analyst at Deutsche Bank’s research division said she could imagine Bitcoin potentially playing the role of digital gold in the 21st century. However, she warned investors about the volatility of crypto asset as crypto purchases are made for investment and speculative purposes. Volatility is the heartbeat of trading. And in a vote of confidence, a recent survey has revealed that a new crop of institutional investors that are ready to go all out on cryptocurrencies. The survey noted that all of them has no prior exposure to crypto and revealed that as many as 62% of the respondents confirmed they will be making their first investment in the cryptocurrency ecosystem within the coming year. Hallelujah to that!