Are Bitcoin and Ethereum Attracting More Institutions. Analysts Weigh In.
01 Jun 2023, 08:00
Are Bitcoin and Ethereum Attracting More Institutions? Analysts Weigh In
Many analysts believe the present wave of price hikes and technical upgrades recently enjoyed by leading digital currencies like bitcoin and Ethereum will lead to a huge surge in institutional crypto investing.
Bitcoin and Ethereum May Be Boosting Institutional ConfidenceNot long ago, the price of bitcoin rose to a ten-month high and hit $30K for the first time since last June. The world’s number one digital currency has been on the rise since the beginning of the year and has nearly doubled its price from the end of 2022 (during that time, it was trading in the mid-$16K range).
But bitcoin isn’t alone in its present ascension. The world’s number two digital currency and the primary competitor to bitcoin, Ethereum, has endured what’s known as the Shapella upgrade. This has opened the door to all kinds of staked ether withdrawals, which were not available prior to this point. As a result, Ethereum has entered a rather bullish path and recently struck $2K per unit for the first time in what feels like an eternity.