Bitcoin exceeds $ 50,000 with increased interest from institutional investors; many experts predict that the race could continue.
It does not stop the run of Bitcoin that breaks through share 50,000, and many analysts are willing to bet on the race go up to $ 100,000 and beyond.
The Bitcoin is exchanged at this time to $ 50,200, bringing its double-digit growth (+ 19.80%) in just one week and up sharply from $ 41,000 last Tuesday.
Bitcoin Quote – The weekly growth
Yesterday, moreover, the market capitalization of Bitcoin (927.6 billion) exceeded that of Facebook (917.61), thanks to the collapse of the shares of the American company due to the blackout of WhatsApp, Instagram, and the same social network. Mark Zuckerberg.
Institutions are still betting on Bitcoin.
A CoinShares report highlights how Bitcoin investment products generated $ 68.7 million in inflows in the week between September 27 and October 1, with week-over-exposure growth of 36%. Week.
Thats is the third consecutive week in which institutional investors have increasingly focused on the main cryptocurrency, reversing the course from a record series of outflows that continued for eight consecutive weeks until the beginning of September.
CoinShares estimates that institutional wealth managers collectively account for 57.1 billion crypto-related assets, up 8.5% over the past week.
Among them, Grayscale continues to dominate the industry, accounting for $ 41.1 billion or 71% of its total AUM (assets under management).
In the second place, we find CoinShares XBT with 2.2 billion, followed by Purpose with a value of 2.1 billion dollars of assets under management.
Interest in other cryptocurrencies
Other investments by institutional operators include a significant amount of products in Ethereum (ETH), with inflows of $ 20.2 million.
Last week was also characterized by strong demand for altcoins or alternatives to Bitcoin. Specifically, the products tracking Cardano (ADA) and Solana (SOL) saw revenues of $ 1.1 million and $ 700,000, respectively, while Polkadot (DOT) and Binance Coin (BNB) sold $ 800,000 each. Multi-asset funds also recorded minimal inflows of $ 1.9 million.
While the market is trying to recover from the violent correction in July, CoinShares notes that last week’s $ 2.4 billion trading volume is still limited from the $ 8.4 billion traded weekly during the peak of the bullish cycle. In mid-May.
Bitcoin towards 100 thousand dollars?
Several analysts predict a Bitcoin run up to $ 100,000. Among them, Jp Morgan believes that the upward trend for the major cryptocurrency could continue up to $ 146,000.
Even Mike McGlone, an expert on raw materials from Bloomberg Intelligence, has put on the table the $ 100,000 option for criptomoneta.
However, the most optimistic seems to be Raoul Pal, a former manager of Goldman Sachs, who predicts a great last quarter of the year and a Bitcoin that could reach 400,000 dollars.
With enthusiasm for the 100,000 quotas, Adrian Zduńczyk warns that Bitcoin could drop by 90% after reaching the magic figure.