• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
Bitcoin Price Doubles in Institutionally-Driven First Quarter; What's in Q2?
Advertisement

Bitcoin Price Doubles in Institutionally-Driven First Quarter; What’s in Q2?

Yashu Gola by Yashu Gola
2 years ago
in Bitcoin
0
Advertisement

Bitcoin went into an upside mania in the first quarter of the year.

The flagship cryptocurrency surged by roughly 102 percent as investors showed no fears of risk-taking. On the contrary, they embraced it as interest rates on government bonds rose but remained near their historically low levels. New rounds of government stimulus packages further pushed investors to risky corners of the market, showing a lot of fiat liquidity in the market, waiting to enter speculative assets.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

What a Quarter!

When 2021 began, bitcoin investors did not know that Democrats would sweep both the House and the Senate. But as the so-called blue sweep happened, it paved the way for their leader, the US President Joe Biden, to push through an expansive stimulus package than many had anticipated.

Additional dollar liquidity tends to make bitcoin investors and traders bullish.

Next month saw one of the most celebrated bitcoin investments ever made, led by Elon Musk’s Tesla, which added $1.5 billion worth of bitcoins into its balance sheets.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The US carmaker clearly stated in its securities filings that it considers Bitcoin as a store of value asset like cash. It added that it would start accepting the cryptocurrency as payments for its electric vehicles, a promise it realized ahead of Q1’s close. Payment company Square also added $170 million worth of BTC in its reserves, atop its $50 million investment last year.

Bitcoin price surged by up to 82 percent after Tesla's announcement. Source: BTCUSD on TradingView.com
Bitcoin price surged by up to 82 percent after Tesla’s announcement. Source: BTCUSD on TradingView.com

On the other hand, MicroStrategy kept raking Bitcoin on every price correction attempt.

In Q1 alone, the Nasdaq-listed software intelligence firm bought 19,714 BTC in two separate rounds. Meanwhile, Bank of New York Mellon, Mastercard, Visa, PayPal, Morgan Stanley, and Goldman Sachs announced crypto-enabled services, fueling prospects of higher retail and institutional interests in Bitcoin in the coming quarters.

Bitcoin FOMO or FUD in Q2?

When trends work, they really work.

Investors with skeptical views have tried to predict an imminent crash in the Bitcoin market. Nevertheless, each of the cryptocurrency’s downside corrections from its sessional top has met with strong accumulation. That coincides with a declining balance in wallets that hold more than 1,000 BTC and an increasing one in those holding less than 10 BTC, which shows a higher retail interest as the so-called “rich-list” secures its profits.

Past performance is not indicative of future results.

The second quarter for Bitcoin begins with the prospect of going further higher, led by President Biden’s explosive infrastructure spending plan. The 78-year old Democrat said Wednesday that he wants to raise an additional $2 trillion in infrastructure subsidies, mostly funded by corporate tax rises.

Investors could see more spending as a reason to go long-term bullish on Bitcoin.

The yields on longer-dated government debts might rise further in the second quarter, with the 1o-year Treasury note eyeing interest rate returns above 2 percent. The Federal Reserve wants to maintain inflation above 2 percent, so the bond sell-off may likely resume staying around the central bank’s target.

Or…

…in a rare blow to bitcoin, the Fed might raise its benchmark rates after keeping its near-zero for more than 12 months. Its chairman Jerome Powell has rubbished such anticipations in the past, assuring that they would go ahead with lower rates until 2024.

Past performance is not indicative of future results.

Inflation could also hurt growth companies since their future dollars have less purchasing power. Many believe that it could lead them to adjust their cash portfolios to accumulate experimental assets. Bitcoin appears like a great candidate there, especially as mainstream investment firms launch crypto-enabled services for their wealthy clients.

All and all, the second quarter is about both a technical downside correction and a further institutional boost. Inflation is one of the primary drivers for Bitcoin moving forward.

Photo by Michał Kubalczyk on Unsplash 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Yashu Gola

Yashu Gola

Globetrotter Yashu Gola has been working as a financial/crypto market journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

Related Posts

Bitcoin BTC BTCUSDT

Will Bitcoin See A Valentine’s Day Massacre Or Can Bulls Get Back To $24,000?

10 hours ago
Bitcoin

Bitcoin Long-Term Holders Are Still Selling At Loss: Glassnode

16 hours ago
Bitcoin BTC

Will Bitcoin And Ethereum Crash? DCG Sells Grayscale Trust Shares

19 hours ago
Bitcoin

Top Crypto Miner At Record Bitcoin Production, Bear Market Over?

1 day ago
Bitcoin price

This Will Be Important For Bitcoin And Crypto This Week

2 days ago
New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF...

    15 hours ago
  • SinVerse Studios Announces $1 Million Buyback Program for...

    15 hours ago
  • Join the Revolution: Invest in STARSTAKING for 25% APY and...

    15 hours ago
  • The Crypto Bull Market Trend Has Started! What Does This...

    16 hours ago
  • Orbeon Protocol (ORBN) Grows 1625% During the Presale...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.