Institutional FOMO Behind The Bitcoin Rally?

Data is showing institutions and whales are behind the current rally, signalling the next rally should be much bigger than 2017’s :

Bitcoin whale clusters show ‘institutional FOMO’ is behind the BTC rally

Data shows that institutions heavily accumulated Bitcoin in the $12,000–$15,000 range, and according to analysts at Whalemap, this is a positive trend because institutions and whales typically accumulate assets with a longer-term investment strategy in mind.

The fact that larger hands are accumulating BTC instead of retail investors also explains the somewhat suppressed mainstream interest in Bitcoin, as Cointelegraph previously reported. Various metrics, including Google Trends, have shown lackluster mainstream demand for BTC despite its parabolic rally in recent months.

Whalemap analysts described the recent spike in demand for Bitcoin from whales as “institutional FOMO.”

FOMO, short for “fear of missing out,” refers to a trend wherein investors increasingly buy into an asset fearing it will continuously surge.

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Master Asked on November 13, 2020 in Bitcoin.
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