Are Institutions Buying Bitcoin?
There has been a lot of buzz about the institutions buying Bitcoin since early 2018.
At that time it was said that these institutions were buying bitcoin in OTC's .
But to be honest there were no proper modes of entry for these Institutions to Buy Bitcoin.
Bakkt was seen as the turning point to fix this issue.
Everyone believed that Bakkt would allow Institutional Investors to Invest in Bitcoin.
But the Launch of Bakkt had a pretty sharp negative impact on the price of Bitcoin.
But the real issue was that the Bakkt daily trading volume was so low leading to the questions whether institutions were interested in Bitcoin or not?.
But Few Weeks back, the volume soared up which was a good sign for Traditional money flowing into Bitcoin.
Today the Volume has hit a All-Time High of 1660 Bitcoins (or) $15 Million.
This shows the continued interest of Traditional Investors in Bitcoin.
The Short Term Price action may be Bearish but, in the Long term Bitcoin is very bullish.
Bakkt is Launching it's Options Trading Platform shortly.
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