Bitcoin, which has renewed its ATH by rising above $ 73,000 in the past weeks, fell to $ 60,000 levels with the declines it experienced this week.
While some analysts think that the correction in BTC could continue to lower levels, a positive report came from Goldman Sachs.
Mathew McDermott, head of digital assets at Goldman Sachs, who stated that the recent rally in Bitcoin was driven by retail investors, contrary to popular belief, said that institutional investors are just starting to turn to BTC and the real rise has not yet begun.
Speaking at the Digital Asset Summit (DAS) in London, Mathew McDermott said the following about the BTC price:
"The recent rise in Bitcoin and cryptocurrencies has been driven primarily by purchases by retail investors.
But now we're starting to see institutions stepping in and we're seeing a shift in the demand and appetite for Bitcoin. At this point, the real rise in Bitcoin has yet to begin.
Last year was tough, but going into this year, we've seen a big shift, not just in terms of the types of clients, but also in terms of volumes. Spot Bitcoin ETFs have had a huge impact on this shift. ETFs have led to a psychological shift."
Mathew McDermott, head of digital assets at Goldman Sachs, finally stated that the rally in Bitcoin has just begun, adding that the rally will continue and enormous levels will be seen.
