Why is Bitcoin price down today?
1 min read
After topping the $21,500 mark on Nov. 4, Bitcoin (
Is there a chance for Bitcoin price to reverse course?
The short-term uncertainties in cryptocurrencies do not appear to have changed institutional investors’ long-term outlook. According to BNY Mellon CEO Robin Vince, a poll commissioned by the bank found that 91% of institutional investors were interested in investing in tokenized assets in the following years.
Around 40% of them already have cryptocurrency in their portfolios and approximately 75% are actively investing in digital assets or considering doing so.
Worries about FTX’s potential insolvency are clearly instrumental in Bitcoin price sweeping a new yearly low.
In the long term market participants still expect the price of Bitcoin to go up, especially as more banks and financial institutions are seemingly turning to digital cash for settlement purposes.
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