Despite the recent loss in the price of Bitcoin, institutional investors remain bullish on the top digital asset. The increasing number of BTC institutional investors is one of the factors considered to fuel the 2020 rally in BTC’s increases. BTC recorded significant gains a few months to the end of the past year, climbing from around $10,000 in October to about $42,000 in early January.
Before the decline, the CIO of Guggenheim Investments had earlier predicted a fall in the price of Bitcoin. In addition, Anthony Scaramucci of SkyBridge Bitcoin Fund noted that the BTC loss is a suitable time to acquire the digital asset.
InsideBitcoins highlighted the reactions of BTC investors to the recent plunge. According to the report, the CIO of crypto fund Arcane Assets Eric Wall referred to the price fall as “just noise.” He noted that Bitcoin’s loss to $30,000 is a bullish signal as the top coin was trading around $20,000 in December. However, he added that Bitcoin trading at $16,000 to $18,000 would be worrying for him.
Similarly, Castle Island Ventures founder Nic Carter said he was unmoved by BTC’s spike and remains so even with the crash. Speaking further, Carter said he would react when Bitcoin tops $100,000. Referring to the sudden 50% BTC loss in 24 hours, he added that Bitcoin’s price can not move him anymore.
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