Home » Currency News » Matrixport Reveals The Investor Demographic That Is Driving The Bitcoin Rally

Bitcoin rose sharply last week, driven by damaging information such as the collapse of Silicon Valley banks in the United States. During this period, digital assets rose above $28000 for nine months and then adjusted downwards. In its latest statement, Matrixport exposed the crowd of investors driving up prices.

Americans have boosted the price of bitcoin

Us investors are actually behind the sharp rise in bitcoin since the start of the year, the head of scientific research at Matrixport Markus Thielen said in a new statement. The researcher stressed that although digital assets have risen by about 66% so far this year, most of the increases have occurred in the United States.

By comparison, BTC rose 47 per cent in US stock trading hours, compared with 16 per cent in Asia and 3 per cent in EU countries. This means that American investors accounted for 71% of the total increase in bitcoin over the past year.

Narrowing the picture down to two weeks, Americans once again outperform Americans on the other side of the Atlantic. Over the past 11 years, the price of Bitcoin has risen by more than 44%, with Bitcoin up more than 31% in the United States and about 13% in other markets.

Bitcoin rally Americans

The increased participation of US investors comes at a time when Bank of America is becoming more unstable. Sure enough, investors are pouring into Bitcoin as a way to protect their fortunes, while hedging against the possible impact of the trading banking crisis on the economy.

Can Bitcoin rise again?

At this stage, the price of Bitcoin has been adjusted to the level of $27000. But that doesn't mean the end of the gain. That, in turn, suggests that investors are waiting for a statement from the Federal Open Market Committee, which is scheduled to be released on Wednesday.

Matrixport forecast analysis, due to the previous two general meeting interest rates rose from 75 basis points (basis points) to 50 basis points, and then fell to 25 basis points, the Fed meeting finally relaxed its manipulation and slowed down the rate of interest rate hikes. As a result, it is estimated that Jerome may persistently raise interest rates by another 25 basis points.

Bitcoin (BTC) price chart from TradingView.com

Doing so will be very bullish on digital assets such as bitcoin and could lead to further upward trends. In addition, inflation is easing, and Fed meetings have long been injecting new liquidity into society, giving investors more risky counter-offers.

"the new liquidity given by the Fed meeting in many forms is not easy to enter China's real economy, so inflation is not easy to rise," the Matrixport report wrote. " "Let's go back to the good days when property fell back (selectively). In this environment, Bitcoin is your best friend.

In a previous statement, Matrixport adjusted its price forecast for BTC. The company estimates that such digital currencies will reach $36000 by the summer of 2023, while maintaining the year-end price target of $45000 for bitcoin.

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