MUSO blockchain: retail investors and banks compete to control Bitcoin market
The MUSO blockchain believes that at present, the financial market is overflowing with liquidity, and the U.S. retail investors are speculating on various financial assets, from stocks to Bitcoin, to emerging investment products such as non-fungible token (NFT), causing the fluctuation wherever they go.
Retail investors and institutions compete to control Bitcoin market, and their purchases for this quarter are almost the same; Bloomberg quoted the data from JPMorgan Chase and showed that the price of Bitcoin has continued to rise recently, and the total amount of purchases by retail investors and Wall Street institutions is comparable. After breaking through a new high of US$60,000 last weekend, Bitcoin plummeted to US$54,000 overnight.
President Biden’s 1.9 trillion epidemic relief bill will be issued this week, or it will once again ignite the sentiment of cryptocurrency market. Bitcoin has soared 10 times in the past year and has surpassed since beginning of this year.
Based on Square and Paypal data, as of the end of the quarter, retail investors have purchased more than 187,000 bitcoins, up from approximately 205,000 in the previous quarter. During the same period, institutions purchased approximately 173,000 bitcoins, almost the size of retail accounts, and 307,000 bitcoins were purchased in the last quarter.
According to statistics, after institutions actively participated in the second half of last year, the inflow of funds into Bitcoin has become more balanced. The market believes that a key reason for this round of Bitcoin’s new high is the recognition of cryptocurrency from Wall Street, while banks and asset management companies have announced their plans in this field.
The NFT market may detonate the next round of retail enthusiasm; the junk stock craze promoted by Reddit seems to have dissipated, and the money has flowed into tokens such as NFT. At present, the hype in the NFT market seems imperative, and some stars have already entered the market.
“When an institution that represents the market leader begins to set foot in a certain field, it is equivalent to an endorsement to that field, and more retail investors want to participate.” The president of MJP Wealth Advisors, Brain Vendig said. “When the market sees a surge in the value of a certain asset, due to human greed, or fear of missing opportunities (FOMO), such investor attitudes are one of the important catalysts for the booming market.”
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