Some point to institutional adoption and ETFs as key drivers of the price increase
That’s the main takeaway from most news and articles I’ve read too.
Institutional adoption has definitely boosted confidence, not just among small investors but also for people using Bitcoin for everyday transactions. These groups are driving the growth of adoption. And as we all know, when there’s hype, there’s demand, and with demand comes a likely increase in Bitcoin’s price.
This one is true. Institutional adoption is the biggest factor that could create a big storm for bitcoin to finally reach its new all time high. Where there is increased institutional investment, it could drive demand and push bitcoin to skyrocket again until it reaches another all time high.
Furthermore, with the growth of institutional adoption comes with the increase of global adoption, which creates a significant remark that bitcoin in less time will no longer just a store of value but as a means of payment as well, more like serves as another option aside from using USD.