Considering the increasing interest from institutional investors, what impact do you think it will have on the overall value and perception of Bitcoin in 2024?
I for one, personally think that Institutional investors have the potential to significantly impact the value and perception of Bitcoin in 2024. Their involvement brings more legitimacy and stability to the market, which can attract more investors and increase overall confidence in Bitcoin. As institutional adoption grows, it could potentially lead to a higher demand for Bitcoin, driving up its value. It's an exciting development that could shape the future of Bitcoin!
What do you think?
I don't know whether the institutional investors will do any good to Bitcoin! The market was heated up when there was a potential to approve Bitcoin ETF. But that afford trend is nowhere to be seen now even after it is approved. That's quite surprising! Probably something is going in the back end which we are not able to understand. I personally didn't like companies like blackrock entering into Bitcoin market. Because with the kind of money they hold, they can do anything with Bitcoin as per their wish. Institutional investors are are real threat to this decentralised economy.
I think in 2024 the Bitcoin market will remain positive. However the retail investors like me will take a very cautious approach.