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In recent weeks that Bitcoin is stealing, many people have argued that he had finally found his low point. The popular Binance Stock Exchange has published a comprehensive report on the state of the cryptography market. They found that the worst for space is most likely, which indicates that from now on everything will be green with high prices. Of course, this is news for investors and traders who want to see blockchain technology reach general attractiveness.
The Binance report says:
"After a period of the highest internal correlations in the history of cryptography, the data can support the notion that the cryptomarket has already reached its lowest level."
In addition to this, Binance has published another report which explains the internal correlations.
On the other hand, not all members of the encrypted space ecosystem have such an optimistic outlook. The popular derivatives dealer Tone Vays is rather pessimistic (but perhaps realistic prospects, if you look at the annual bear market), that a new fund could be formed.
There is NO magic price that turns a downtrend into an uptrend, that's how $ BTCUSD comes at a price. I can see a scenario where I say:
"I was wrong, #Bitcoin $ 3k down now that we are $ 8k "
But I can also say:
"I know $ BTC is $ 10k, but I do not think we hit the bottom "https://t.co/wQ26ypfV2C– Your Vays [#UnderstandBit] (@ToneVays) April 9, 2019
The price of bitcoin recently reaching the $ 5,000 mark, it seems more and more likely that Binance is right and that there will be no down lows.
Retail
Although it seems that retail investors continue to dominate the cryptography market transactions.
"The frequent periods of extreme correlation of cryptomarket are inseparable from the strong market participation in retail."
The Binance report compares the dynamics of crypto to that of the Chinese stock market, suggesting that both markets are mostly crowded with retail investors.
Two years ago, "Retail investors accounted for more than 99.8% of the Chinese stock market in number of accounts, over 40% in market value and more than 80% in transaction volume."
Cryptocurrency and the Chinese stock market also suffer from high turnover rates.
The cryptocurrency market is made up of around 700 crypto funds that combine "Total assets of just under $ 10 billion in January 2019."
In such an example where their portfolios are made entirely of Bitcoin, "This would represent an upper limit of only 14% of the total value of the bitcoin market." Involving altcoins in this scenario would change the results so that the "The overall institutional proportion could be less than 7% for the cryptoasset market." This is only a small fraction of the dynamics of the stock market.
"At the same time, the institutional participation rate estimated at 7% of Crypto is only one thirteenth of that of the US stock market."
On a positive note, institutional investments are likely to increase with the launch of new Bitcoin trading platforms, such as the regulated Bakkt.
The spirit of the investor
The report then discussed crypto trading:
"As a general rule, non-professional investors tend to become too confident or too pessimistic to respond to market trends, resulting in higher potential transaction volumes and more volatile prices, as many studies report."
On the other hand, many investors in cryptography are more likely to keep their assets in case of market downturn.
"In the face of declining market trends, unlike many institutional investors driven by dynamics, most investors in the cryptographic asset market may prefer" HODL "to a prolonged drop in prices."
Bitcoin SV
Meanwhile, Craig Wright of Bitcoin SV is looking to hate a lot of hate from some of the biggest names in following his decision to sue Holdanaut and Peter McCormack, two crypto enthusiasts.
Yesterday, Binance announced a major decision to write off Bitcoin SV after receiving a lot of resentment from the cryptocurrency community towards the BSV founder and scientist nChain who claimed to be Satoshi Nakamoto.
John McAfee, the popular crypto enthusiast, wrote:
"Too much is too much! There are at least a dozen crypto members who know the true identity of Satoshi.I can assure you, 100%, that it is not Craig Wright. This absurd statement from Craig is incomprehensible Mr. Wright: Do not you feel ashamed Sir seriously, you're not ashamed of it?
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