As a seasoned crypto investor with a decade of experience under my belt, I’ve seen my fair share of market highs and lows. The recent surge in Bitcoin’s price, propelled by President-elect Trump’s pro-crypto policy announcements, has certainly piqued my interest once again. However, the cautious approach being taken by retail investors, despite the increasing trading activity, is a familiar sight to me.
Bitcoin‘s astronomical surge, approaching $100,000 following President-elect Donald Trump’s supportive crypto policy statements, has sparked renewed interest in the market. However, analysts suggest that retail investors continue to exercise caution, as activity levels have yet to reach the highs of the 2021 boom.
Based on a Bloomberg report, Josh Gilbert, an analyst at eToro, stated that there’s evidently growing curiosity among retail investors about Bitcoin, as trading activity has noticeably escalated. He added that while the current level of involvement hasn’t yet reached previous peaks, it suggests that many retail investors are still waiting on the sidelines to join in.
The difference between Bitcoin’s local price in South Korea (the Kimchi premium) and its international cost is currently zero, which is significantly lower than the high premiums observed during periods of intense trading activity.
As a researcher delving into the realm of nonfungible tokens (NFTs), I’ve noticed an intriguing trend. These blockchain-anchored digital assets, typically associated with collectibles, are currently undergoing a substantial market slump. A global benchmark, tracking the pulse of NFT market activity, now stands at around one-fifth of its record peak. This dip mirrors a decreased level of investor engagement and activity in this burgeoning sector.
As a crypto investor, I’ve noticed that institutional interest has undeniably propelled Bitcoin’s market cap to reach an impressive $1 trillion. However, certain industry veterans are pointing towards indications of renewed involvement from retail investors. For instance, the altcoin Solana has reached a new peak, downloads for crypto apps have skyrocketed, and previously inactive trading accounts are being reactivated, as reported by BTC Markets CEO Caroline Bowler.
Enthusiasm for Trump’s pledge of more accommodating regulations and a strategic US Bitcoin reserve has grown. It’s worth noting that crypto pioneer Justin Sun poured $30 million into Trump’s World Liberty Financial initiative, indicating faith in the administration’s knowledge about this industry.
According to Jupiter Zheng from HashKey Capital, “Retail FOMO hasn’t yet reached the levels of 2021,” meaning that the fear of missing out among retail investors in cryptocurrency trading has not yet regained its intensity from 2021. However, select altcoins are currently performing well. Furthermore, it is expected that Donald Trump’s platform will generate more interest in crypto, potentially leading to a broader revival of retail involvement in the sector.
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2024-11-29 15:00