Abstract : The rise of Bitcoin in the second half of this year was driven by institutional funds.
November 18 (ChainDD) According to CCTV-2, the Finance Channel of China Central Television (CCTV Finance Channel), as of the afternoon of the 17th GMT, Bitcoin, the cryptocurrency with the highest market value, broke through $17,000, reaching $17,534, setting a new high this year. This is the highest price level since December 2017.
Since entering the fourth quarter, Bitcoin has started a new round of price trend, which has risen by 70% in less than 50 days.
Some analysts believed that the network construction, the development environment and the investment ecology of bitcoin today had totally changed if compared with that in 2017.
The driven force of Bitcoin Bull in 2017 came from retail investors, but the rise of Bitcoin in the second half of this year was driven by institutional funds.