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Institutional investors go to the cryptocurrency market

May 6, 2019

There have been no significant changes in the TOP cryptocurrency by capitalization. Only 13 coins have the capitalization of more than $1 billion, after the rapid collapse of Bitcoin SV. At the same time, Cosmos (ATOM) token hit the 15th position and came very close to the $ 1 billion level.

The BTC price managed to overcome the psychological level of $6000. Nevertheless, there is a risk of a corrective decline before another wave of growth. On the way of buyers, there is a strong technical resistance range of ​​$6000– $6200. The strong bullish driver for BTC is needed to break through the marked resistance range.

Institutional investors

Fidelity, an American asset management company, surveyed 411 institutional investors in the United States, which include: pension funds, family offices, crypto and traditional hedge funds. This survey was conducted to understand the attitude of investors to a new class of assets

22% of institutional investors have added cryptocurrency to their investment portfolio. At the same time, 72% are ready to buy investment products related to cryptocurrencies. While 57% are ready to buy cryptocurrencies directly and as many are prepared to buy an investment product owned by companies that deal with digital assets.

This survey indicates a rapid increase in the popularity of cryptocurrency and, as a result, the loyalty of large investors to this market. Thus, the emergence of ETF funds in cryptocurrencies can provide substantial support to the market.

Wealthy investors are ready to buy cryptocurrencies

deVere Group surveyed 700 wealthy people who own assets that worth more than £1 million ($ 1.3 million) and reside in the US, UK, Australia, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany, South Africa or UAE.

68% of the deVere clients surveyed are either already investing in cryptocurrency or are ready to do it by the end of 2022.

“The research shows that wealthy individuals are increasingly seeking exposure to cryptocurrencies,” said Nigel Green, founder and CEO of deVere Group. “There is growing, universal acceptance that cryptocurrencies are the future of money – and the future is now. High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets.”

It once again confirms the rapid development and expansion of the cryptocurrency market. Thus, we observe that the future has already come, at least for 22% of institutional investors and soon, for 68% of millionaires surveyed by consulting firm deVere Group.

Incredible predictions

Everyone remembers the predictions made at the beginning of 2018, which promise a rise in BTC to $100 thousand and even to $200 thousand by the end of 2018. As the price of BTC and several other coins grows, there are more and more optimists.

A popular analyst on Twitter Galaxy analyst is also an optimist. He predicts BTC growth by 6500% to $ 330,000. According to him, if the upcoming bullish market is comparable in dynamics to what it was a few years ago, the $330 thousand level will be reached at the end of 2021.

Similar opinions are expressed by several traders and investors, who indicate that the trend has already changed from descending to ascending. For example, Byzantine General shares the view that the bullish market ended in April of this year, and the price draws similar patterns as in the fall of 2015.

Analysts of  CoinDesk Markets also predicted overcoming the psychological level of $6000, indicating a trend change.

However, to grow further, the price needs to overcome an important resistance range of $6000– $6200, which has been serving as the support range.

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