Institutional Bitcoin Investors Captured by FOMO?

By November 9, 2020Bitcoin Business
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The CEO of STASIS, a financial services company, stated that institutional Bitcoin (BTC) investors may have been under the influence of FOMO. Underlining that his statements are based on probability, the investment director attributed this to the recent Bitcoin purchases.

Gregory Klumov, the CEO of STATIS, made his statements in an interview with a Russia-based website. According to Klumov’s statements, it can be thought that there is a FOMO illusion that affects corporate customers in such an environment as institutional Bitcoin investors have started to buy many Bitcoins by taking courage from each other.

What situation have corporate companies affected?

Klumov explained that purchases are made through the “time-weighted average price” (TWAP) algorithm. TWAP is known as a term used to emphasize the average price of an instrument over a period of time. STASIS CEO may have made such a statement to emphasize that institutional investors are making quick purchases to draw attention to the rally of Bitcoin.

Although Klumov’s statements do not contain any corporate names, it has recently occupied the internet agenda where companies such as MicroStrategy and Square have made large amounts of BTC investments. According to the STATIS CEO, these steps are usually taken by corporate customers so that companies can create positions in a limited time.

How much is Bitcoin currently trading?

Bitcoin price recently broke a record after a record, first exceeding the price threshold of 13 thousand and then 14 thousand dollars. Bitcoin, which exceeded $ 15,000 on November 6, rose to $ 15,829. Thanks to this, the leading crypto currency, which has increased by 45% compared to last month, is currently continuing to rise at regular intervals.

The BTC price, which declined to $ 15 thousand 215 during the day, may have been affected by miners who want to protect their profits and make a large amount of money withdrawal. Bitcoin, similar to its rise in January 2018, is trading at $ 15,312.

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