Despite the fact that prices have struggled a bit in recent times, the Bitcoin network is consistently recording increases. Yesterday, Bitcoin successfully crossed the $10,000 mark and even though it has corrected, the move puts some faith in the community.
Coin Metrics’ has released a new report on Bitcoin’s recent trajectory. Titled “State of the Network”, the report says that “all facets” of Bitcoin’s trading volume are jumping impressively. At this rate, Coin Metrics believes that the rate of increase could very easily match the rates found in other major asset classes.
However, Coin Metrics agrees that properly calculating Bitcoin’s volume might be tricky. This is because it is the largest cryptocurrency and is currently listed on pretty much every crypto exchange in the sector. This “fragmentation” is what cements the difficulty.
The report, while encouraging institutional players, admonishes them to carefully decide how they would like to enter the crypto market.
“Institutions considering entering the space should first survey the landscape and make a determination of which exchanges, markets, and assets they feel comfortable transacting in.”
A recent Coin Metrics report mentioned that investors bought heavily into the Bitcoin market on March 12, when prices plummeted to levels around $3,600.