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Bitcoin In Demand: Investors Haven’t Stopped Buying BTC Despite Crypto Market Doubt

As of this writing, BTC has surpassed the psychological support level of $20,000. This may be the result of recent advances in Bitcoin’s institutional investment sector.

Although it will take a considerable amount of time before a large rebound will wipe out the losses from September 13, the price will undoubtedly rise.

However, Bitcoin investors and traders should not be overly hopeful. We may anticipate that NYDIG would purchase the crypto in batches, which will aid bulls in the long run.

Indicators also point to short-term gains, with the fear and greed index being optimistic.

This is a positive indicator, but it sends sell signals to those who wish to liquidate their holdings. If Bitcoin can consolidate at the 61.80 Fibonacci retracement level, this will serve as the next rally’s support.

The actual boost, however, comes from an increase in retail investor confidence, since most consumers will view the investment of financial giants in Bitcoin as a hint to invest in the cryptocurrency.

Full article here: https://bitcoinist.com/bitcoin-investors-havent-stopped-buying-btc/