Bitcoin resumes rally as investors new to the crypto game pile in – data analysis ...News

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Bitcoin resumes rally as investors new to the crypto game pile in – data analysis
source : Russia Today ( News ) () 12
The latest bitcoin rally has been bolstered by institutional investors who are new to the crypto world, with nearly half a million tokens scooped up since September, the international data firm Chainalysis says. Big investors reportedly bought $11.5 billion in bitcoins over the past three months. The buying spree nearly doubled the price of the world-leading cryptocurrency, which couldn’t exceed the $12,500 mark since July 2019. “The role of institutional investors is becoming ever clearer in the data,” Philip Gradwell, chief economist at Chainalysis, said in a note to clients seen by CNBC. “Demand is being driven by North American inv

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