The record-breaking rally that is being made by Bitcoin has resulted in a spike in retail investment from the interested investors in the market of cryptocurrency.
The crypto exchanges including Binance as well as Coinbase and the online trading platforms like eToro and Revolut have also witnessed a surge in the activity very recently. This is basically due to the rise in the interest of the new investors who have been racing to capitalize on the wild gains of the crypto market.
New Interest From Investors For Bitcoin
The bulls of Bitcoin have claimed that the latest rally of cryptocurrency is very different from the bubble of late 2017 which had seen a spike in the price that had almost touched $20,000. This took place prior to collapsing to a low of $3,122 in the next year. The major difference is that the institutional investors have been running the price benefits around this time.
Stanley Druckenmiller and Paul T. Jones, the most popular and reputed investors, have come out as big believers of the crypto assets in the preceding year. On the other hand, the asset management company of the UK, Ruffer has successfully managed to add a whopping $550 million which is an equivalent of $747 million worth of Bitcoin to their portfolio.
The entire market value totaling all the cryptocurrencies has recently exceeded the massive amount of $ trillion. This happened on 7th January 2021, Thursday, for the very first time. Bitcoin is presently the most expensive digital coin possessing a market cap of more than $700 billion.
