Bitcoin is on the cusp of a new wave of institutional investment

The author of the S2FX Bitcoin price prediction model, Plan B, stated that a new wave of buying cryptocurrency # 1 by institutional investors is currently starting.

On April 5, it became known that MicroStrategy, a company whose shares are traded on Wall Street, acquired an additional 253 bitcoins, paying an average of $ 59,339 for each of them.

Thus, the amount of bitcoins that are on the balance of MicroStrategy has grown to 91,579 BTC. For these digital assets, the company laid out $ 2.226 billion, that is, it acquired bitcoins at an average price of $ 24.311 thousand.

Glassnode said earlier that after the bitcoin price surpassed the $ 20,000 level in December 2020, «serious institutional investors began to actively enter the digital asset market.»

Another important sign of large purchases of bitcoins was that at the beginning of the week, on April 5, bitcoins totaling $ 257 million were withdrawn from the American crypto exchange Gemini in just 10 minutes. It is assumed that these digital assets were placed in cold wallets, which means that the owners of such assets are oriented towards a long-term investment horizon.

The total reserves of bitcoins on crypto exchanges continue to decline and now amount to less than 2.3 million BTC. Glassnode experts believe that when the price of bitcoin drops to 57 thousand dollars, the market will see an increased desire of investors to buy back this digital asset at this price level.

Plan B believes that Bitcoin has a chance to reach the $ 100,000 mark by the end of this year. Meanwhile, well-known entrepreneur Robert Kiyosaki said that over the next five years, it is possible that Bitcoin will go to the level of $ 1.2 million, but at the same time he continues to give preference to gold and silver in investments.

Prize drawing from Bybit crypto exchange at Blockchain Life 2021

On April 21 and 22, the Bybit team will take part in the VI International Forum on Blockchain, Cryptocurrencies and Mining – the Blockchain Life 2021 conference, which will be held at the grandiose Music Media Dome in Moscow.

On April 21, within the framework of the business program of the forum, Ignès Terrenas, head of the communications department of Bybit, will speak. As a true crypto enthusiast and an ardent supporter of the development of the fintech industry, Ignès Terrenas will talk about how blockchain and crypto trading are becoming part of traditional services and financial infrastructure. The blockchain and cryptoindustry is consistently adapting to traditional markets and penetrating all areas of our lives.

“Taking the bull by the horns ,” calls on Ignes Terrenas and prepares the participants in Blockchain Life 2021 for a deep dive into the crypto future.

“Globally, we see that it is not only financial geeks who want to understand the tools of crypto trading and take advantage of their opportunities. The audience has expanded significantly. And we are ready to share knowledge and understanding of trends in order to raise the level of professionalism of everyone who is focused on results. «

Ignes notes :

“The dynamics in the cryptoindustry speaks for itself. Over the past year, the number of active crypto derivatives traders has doubled. Only on our platform there are already twice as many Russian-speaking traders as there are Spanish-speaking ones. Over the past six months, the influx of users from Belarus, Armenia, Kazakhstan and Moldova has accelerated. And only in the first quarter of this year, the audience of the Russian-speaking region as a whole grew by 66%. «

At the corporate booth ( D2 ) at the Music Media Dome, the Bybit team will host a demo competition of traders with a prize pool of $ 10,000. In real time, the stand will broadcast the results of the battle of trading strategies. Bonuses and company merchandising will be raffled off. At the end of the forum, the winners will be determined. Anyone can take part in the competition. The Bybit team will provide guidance and support for newcomers.

On April 22, the ceremony of awarding the laureates of the 4th independent award in the blockchain and cryptocurrency industry Blockchain Life Awards 2021 will take place. Bybit has been nominated among the five Best Centralized Cryptocurrency Exchanges. The winner will be determined by open voting of all comers from April 1 to April 16.

  • April 21-22, 2021
  • Moscow, Music Media Dome, Stand # D2
  • https://www.bybit.com/ru-RU/
  • https://blockchain-life.com/

About Bybit

The Bybit platform was founded in March 2018 and is one of the most progressive and innovative cryptocurrency derivatives trading platforms. The platform has over 1.6 million users. Bybit is a leader in terms of contract execution speed.

The platform is distinguished by a high level of transparency, user-friendly interface and professional risk management tools. Bybit has a Russian-language customer support service.

Bybit’s derivative product line includes inverse perpetual contracts BTCUSD, ETHUSD, XRPUSD, EOSUSD, line perpetual contracts BTCUSDT, ETHUSDT, BCHLINK, LINKUSDT, LTCUSDT, XTZUSDT, ADAUSDT, quarterly DOTDUSDT, UNI

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