Price Analysis 7/17: BTC, ETH, XRP, BCH, ADA, BSV, LINK, LTC, BNB, CRO
Cointelegraph
Published Jul 17, 2020 03:43PM ET
Updated Jul 18, 2020 09:40PM ET
Grayscale Investments recent Q2 report shows that the firm took in $905 million into Bitcoin (BTC) and other altcoins. In Q1 of this year, the inflow into various Grayscale products was $503.7 million. The sharp increase in investments indicates that the institutional investors are building positions when the price of the top-ranked asset on CoinMarketCap is stuck in a range as they expect it to rise in the future.
However, in the short-term, the U.S. Federal Reserve’s policy actions might dictate the next directional move. Although the economy is showing signs of recovery, several sectors are still struggling as coronavirus cases surge across the world. Therefore, investors are hopeful that the Fed will extend the current stimulus programs which are slated to end soon.
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Written By: Cointelegraph
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