Bitcoin saw a number of upward movements in 2019, with its price peaking at $ 13,700 in June.
However, the incredible jump in price does not reflect the number of addresses sending,BTC to cryptocurrency exchanges, which has been declining since 2017. Retail investors are not engaging with Bitcoin, Binance and other major crypto exchanges do not match the numbers of 2017.
From TokenAnalyst, they explain this “vicious” trading activity with the lack of interest in CryptoCurrencies by “small” players.
“If we follow the scenario that ‘Bitcoin is a safe haven’ in times of recession, ‘the number of new users/buyers should actually increase.”
Earlier, Tom Lee of Fundstrat predicted that when Bitcoin breaks the $ 10,000 resistance, then FOMO will be seriously activated.
However, it seems that retail investors are yet to enter the space in 2019, despite the price jump. In the meantime, institutions are entering the game As cryptocurrency exchanges compete to regain their days of glory, institutions-oriented trading platforms are reaching new heights.
The Chicago Stock Exchange (CME), for example, saw a 132% increase in Bitcoin futures. VanEck / SolidX is expected to release a version of the Bitcoin ETF that is limited to institutional investors. On top of that, Bakkt will launch its bitcoin futures by the end of September.