Generational Rotation Where Investors Are Transiting From Gold to Bitcoin – The Digital GoldApril 3, 2019
There has been a significant pump in the cryptocurrency market yesterday; the prices are yet to consolidate. The trends will be cleared, the sooner the price correction sets in.
Yesterday, there was a 20,000 BTC order worth $100 million, which is considered to be the major catalyst that sent the price of the Bitcoin surge in the cryptocurrency market. This order was spread in buy and sell across three different exchanges.
There was a 2.4% rise in the price of cryptocurrency this week. Positive sentiment was seen this week, and the cryptocurrency continued to remain in the green. Ever since last week, Bitcoin has been maintaining an upward trajectory. BitMex, CoinBene, and OEX were the most active of exchanges providing for the Bitcoin volumes. The current trend in the market seems to provide a projection that the bulls are taking control over the market recently.
The industry fundamentals are getting better, and the price rally seems to be real, and it is likely to consolidate gains. Following the Bitcoin rally, the price of the Altcoins is also plummeting.
All investors are eyeing the fundamentals as it is the fundamentals that will contribute to the BTC climbing new heights. If the fundamentals show a decided strength for the cryptocurrency, this will set the stage for further bullish trends.
Messsari CEO stated that the Killer use case for Bitcoin continues to be Money. He says it is Digital Gold. Those who are everything cryptocurrency now know of a similar situation in 2016, and now there is increased optimism in the retail and institutional circles.
The happening thing is that there is a generational rotation of investors looking to invest in Bitcoin. They are transiting from trusting gold to trusting Bitcoin, considering it to be digital gold.
Those in the recently born generation consider Bitcoin to be Digital Gold and they feel that this is the kind of currency that will suit the Information Age- suitable to the society of the current day world.
Institutional interest is triggering new hopes in the cryptocurrency market. The Realized value indicators are used to measure the value of the Bitcoin mined so far to that which is currency in supply. In recent weeks, the Realized value has improved dramatically.
While the cryptocurrency continues to be speculative, it provides BTC with a long-term chance to climb higher in the price ladder catalyzed by the different influential parameters in the industry.