There seems to be an increasing amount of capital flows into bitcoin from around the globe.
“The biggest driver right now is you’re starting to see institutional investors take a keen interest in the entire sector,” said Brian Kelly, founder of Brian Kelly Capital, which recently launched a digital assets fund for outside investors.
Bitcoin is at $1548 now.
Etherium is at $99.
One analyst indicates- if Le Pen wins, bitcoin and cryptocurrency markets will have a very strong run. On a Le Pen defeat, there would likely be a moderate retrace and consolidation before resuming its upward momentum.
The bull scenario for Bitcoin is
First phase – investors were technically proficient.
Second phase investors will be non-technical, but savvy in traditional markets. This could be happening now with Microsoft and institutional investors getting in. The third phase would be the general public.
The third phase could start within two or three years when bitcoin’s peak 60-day volatility is below 5%. At this level, it might begin to compete with national currencies in price stability.