The latest CrossTower research revealed that institutional investors will use their full strength in order to keep the price of Bitcoin (BTC) above $ 50,000. Will they be able to do it?
Will BTC not dip below $ 50,000 again?
If we have learned something in recent years, it is that nothing is written in the crypto market. On multiple occasions we have witnessed events that at some point were considered impossible.
Nonetheless, the research suggests that large investors will use all their might in order to prevent BTC from falling below $ 50,000, according to CoinTelegraph.
“We believe that the record number of addresses with more than 1,000 BTC in recent weeks is evidence of growing institutional interest and likely reflects the many headlines in January and February from institutional investors becoming active in Bitcoin,” the research explains.
Therefore, the main conclusion of the research is that according to CrossTower, institutional investments in BTC are not short-term.
Rather, institutional investors entered the crypto market with a ‘buy and hold BTC as digital gold’ mindset.
Likewise, CrossTower uses declining available supply of BTC on crypto exchanges as a bullish boost amid record holdings and volume of Stablecoins.
According to CoinTelegraph, CrossTower analyzed data from CryptoQuant and found that the volume of Stablecoins on crypto exchanges increased 159% from December to January.
But will they succeed?
Institutional investors are obviously interested in keeping the price of Bitcoin above $ 50,000. However, one thing is wanting and quite another is power.
As many of you will know, the price of BTC recently fell below $ 50,000. In fact, it hit a low within the last 24 hours of $ 45,780 according to CoinMarketCap.
The price of BTC plummets below $ 50,000 with a drop of 9%. Source: CoinMarketCap.
Since then BTC has managed to rally to $ 48,860, reducing the loss over the last 24 hours to 9.07%. So, as you can see, BTC has failed to recover $ 50,000.
It is at this moment that the crypto community wonders if it is the beginning of a larger correction or if, on the contrary, it is just the volatility so characteristic of BTC.
Undoubtedly everyone in the crypto community hopes that the CrossTower investigation will be completed and the price of BTC will soar above $ 50,000.