You’re last few weeks have been filled with volatility for Bitcoin. With sudden changes in its price have done for him, in a few hours, trading above the 10,000 dollars to fall shortly after the 9.436 dollars, to be located in the 9.753 that is currently listed. However, despite this fall in price, the market of future contracts of the CME shows that investors of Bitcoin remain bullish.

The ups and downs of Bitcoin

From the third Halving of Bitcoin happened a few weeks ago, the eyes of all the users in the crypto world have been fixed on the price of the criptomoneda. Much more than is already usual in a market, that has been accustomed to revolve around Bitcoin for more than a decade.

And that is, the expectations of a good part of the analysts and crypto influencers, is that the price of Bitcoin to skyrocket, having declined to half the rate of increase in its money supply. By increasing the scarcity of the criptoactivo, which, with a steady demand, should drive the price of the virtual currency.

Basically this had been the development followed by Bitcoin during the two Halving previous. Thanks to which, in the year 2017, Bitcoin managed to almost 20,000 us dollars per BTC for the first and only time in its history. Staying during the last year and a half around $ 10,000, although without managing to overcome this barrier for a long time.

However, in the last few days, some movements in the price of BTC, causing doubts as to whether it is worth investing in Bitcoin. In addition, have led the experts of the crypto market to question if we would not be facing the start of a new great bullish rally. Which can be done to substantially increase the price of BTC, and being the cause of the behavior is more or less erratic in the same during these days.

Despite the volatility, investors remain bullish with Bitcoin. Source: CoinDesk

Data of CME to confirm sentiment bullish

This is a feeling which seem to have also large institutional investors, causing interest in investing in Bitcoin. Which typically operate in the market of future contracts on Bitcoin, such as that carried by the CME Group. The data seem to confirm the existence of a significant upward trend in the investment of Bitcoin.

So, for future contracts with an expiry date in the months of June and July, we observed a clear bias of investors, for contracts with a price of purchase-sale of Bitcoin between 11,000 and us $ 13,000. Having transected 120 million dollars in this type of derivatives.

Thus, investors who participate in CME would be trading with a much higher price to the current trading spot Bitcoin. A trend that also corresponds with the steady increase in the purchases of Bitcoin made by Grayscale.

Grayscale is an investment fund, which allows large institutional investors in the acquisition of financial products is equivalent to the possession of Bitcoin. But without taking the hassle of purchasing and storing the criptomoneda, a service that offers Grayscale and that has led him to have a rate of purchase frenzy. Accumulating up to the date a third of all the BTC mined in 2020, only by institutional agents that want to invest in Bitcoin.

All these are unmistakable signs that there is a significant optimism among investors, who remain bullish. Waiting for an increase in the price of Bitcoin in the medium term, such as, predict analysts of the crypto market as Anthony Pompliano. What makes this our Fact of the Day today here in CriptoTendencia.

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Tech Junkie is a small word for Vikas Kaushik. Whether the latest game on the market or a new gadget launch he is the go-to person. He drives his motivation from the fast-paced technological advancements. He ensures that the right news reaches niche audiences. An avid biker and movie buff he has deep-rooted faith in upcoming technological inventions and is a torchbearer for the tech revolution.

Vehid Abdullahi (@vahidabdullahi on Instagram) Pallapay’s CEO and Founder

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