Bitcoin (BTC) and the rest of the crypto market have been booming since Donald Trumpâs win in the U.S. presidential election on November 5.
While institutional capital has played an instrumental role in the current rally, retail investors are not far behind.
New data points to a sharp rise in retail investors entering the Bitcoin market. This is evident in Bitcoinâs Spent Output Value Bands (SOVB) metric shared by CryptoQuant CEO Ki Young Ju, which revealed that transaction volumes under $100K have surged to a three-year high.
This trend is represented by the dominance of smaller transaction bands, which essentially points to an increased participation from retail investors rather than large institutional players. The spike aligns with Bitcoinâs recent price appreciation.
Meanwhile, thereâs also been a rise in Bitcoin transactions over $1 million. The exec believes large investors might be waiting for more retail buyers to enter the market, especially as Bitcoin nears $100K.
While some price corrections are possible, he doesnât think theyâll lead to a bear market. Instead, he sees this as the start of bigger market activity driven by growing retail and institutional interest.
Bitcoinâs recent climb to a new all-time high above $90,000 has sparked optimism. After a brief profit-taking, the crypto asset appears to be flirting with this milestone. As such, ARK Invest CEO Cathie Wood believes that Bitcoin has âa long way to go.â
In a recent interview, Wood noted that ARK Invest first invested in Bitcoin at $250 in 2015, and even at $90,000, she remains bullish. She attributes its momentum to increasing regulatory clarity under the current US administration.
The executive also added that Bitcoin is emerging as a distinct asset class. Institutions are recognizing its unique behavior compared to traditional investments, which has successfully fueled its broader adoption and allocation. She expects BTCâs price to reach $650,000 by 2030.
Quinn Thompson, the founder of crypto hedge fund Lekker Capital, echoed a similar sentiment that Bitcoin is just getting started and even predicted that it would soon hit the highly anticipated $100,000 milestone. While he is confident this will happen by the end of the year, he also believes it might occur as early as the end of this month. Speaking to Fortune, Thompson said,
And while on the subject of Bitcoinâs future price, hereâs a video where we attempt to answer the question: is it too late to buy Bitcoin in 2024?
The post Bitcoin Price Eyes $100K as Retail Investors Fuel Market Momentum appeared first on CryptoPotato.
While institutional capital has played an instrumental role in the current rally, retail investors are not far behind.
Bitcoin Retail Investors
New data points to a sharp rise in retail investors entering the Bitcoin market. This is evident in Bitcoinâs Spent Output Value Bands (SOVB) metric shared by CryptoQuant CEO Ki Young Ju, which revealed that transaction volumes under $100K have surged to a three-year high.
This trend is represented by the dominance of smaller transaction bands, which essentially points to an increased participation from retail investors rather than large institutional players. The spike aligns with Bitcoinâs recent price appreciation.
Meanwhile, thereâs also been a rise in Bitcoin transactions over $1 million. The exec believes large investors might be waiting for more retail buyers to enter the market, especially as Bitcoin nears $100K.
While some price corrections are possible, he doesnât think theyâll lead to a bear market. Instead, he sees this as the start of bigger market activity driven by growing retail and institutional interest.
Bitcoin Has A Long Way To Go
Bitcoinâs recent climb to a new all-time high above $90,000 has sparked optimism. After a brief profit-taking, the crypto asset appears to be flirting with this milestone. As such, ARK Invest CEO Cathie Wood believes that Bitcoin has âa long way to go.â
In a recent interview, Wood noted that ARK Invest first invested in Bitcoin at $250 in 2015, and even at $90,000, she remains bullish. She attributes its momentum to increasing regulatory clarity under the current US administration.
The executive also added that Bitcoin is emerging as a distinct asset class. Institutions are recognizing its unique behavior compared to traditional investments, which has successfully fueled its broader adoption and allocation. She expects BTCâs price to reach $650,000 by 2030.
Quinn Thompson, the founder of crypto hedge fund Lekker Capital, echoed a similar sentiment that Bitcoin is just getting started and even predicted that it would soon hit the highly anticipated $100,000 milestone. While he is confident this will happen by the end of the year, he also believes it might occur as early as the end of this month. Speaking to Fortune, Thompson said,
And while on the subject of Bitcoinâs future price, hereâs a video where we attempt to answer the question: is it too late to buy Bitcoin in 2024?
The post Bitcoin Price Eyes $100K as Retail Investors Fuel Market Momentum appeared first on CryptoPotato.
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