Although the value of Bitcoin (BTC) is just a little bit higher than its yearly low, top analysts are certain that large-scale investors are still attracted to the digital currency despite its current values and the market slump. Despite there being some hope for another massive rally in the anticipatable future, large-scale and institutional investors are still very much interested in the crypto market – according to the chief market analyst at Think Markets UK – Naeem Aslam.
Naeem Aslam’ Analysis
Aslam said that “they are still seeing massive demands on the over-the-counter front, adding that most of it are large orders, purchasing both Bitcoin (BTC) and Ethereum (ETH) at these levels.” The analysis of Aslam on the institutional demand for digital currency is supported by the increasing number of institutions starting to offer digital currency products.
Bitcoin (BTC) Price Today – BTC / USD
Recently, there were reports that Citigroup was working in a digital currency custodian investing solution that would function like the American depository receipts, enabling institutions to invest BTC via a product that is fully regulated and secure from risk of hacking.
The chief information officer at Altana Digital Currency Fund – Alistair Milne, talked about the increasing interest of digital currencies by key financial institutions, adding that institutional demand is extremely crucial for the future prices of digital currencies.
The Verdict of the SEC on Bitcoin (BTC) ETF Is the Next Major Catalyst for Bitcoin (BTC)
The value of Bitcoin (BTC) has been trading within the $6,200 and $6,600 range over the past weeks. Despite the present stability, investors are waiting for the upcoming decision of the U.S SEC regarding an exchange-traded fund for Bitcoin (BTC). The SEC has scheduled 30th of September to make their final verdict about a Bitcoin (BTC) ETF application filed by CBOE VanEck/SolidX, and investors are placing a considerable amount of stock on the results of the ruling.