Institutional Investors Accumulate ADA and DOT | CryptoGazette

JPMorgan Analysts Reveal Biggest Challenges For Bitcoin | CryptoGazette

There’s been a new report saying that institutional investors are accumulating Cardano (ADA) and Polkadot (DOT). Check out the latest reports coming from CoinShares below.

It’s been just revealed that a leading digital asset manager says institutional investors are taking an interest in Cardano (ADA) and Polkadot (DOT). This is happening while heavily de-risking from Bitcoin (BTC).

In the latest Digital Asset Fund Flows Weekly report, CoinShares found that BTC suffered $154 million in outflows last week, leading a digital asset market that saw outflows of $141 million total.

“Digital asset investment products saw outflows totaling $141 million last week. The ongoing volatility has led to fickle investors with some seeing this as an opportunity while the aggregate sentiment is predominantly bearish. Outflows totaling $154 million were seen in the Americas while Europe saw inflows totaling $12.4 million.”

As the online publication the Daily Hodl notes, the Institutional investors “poured $1 million apiece into digital asset investment products focused on Polkadot and Cardano while also investing $700,000, $500,000 and $100,000 in XRP, Solana (SOL) and Litecoin (LTC) products, respectively, according to CoinShares.”

Multi-asset digital investment products, those investing in multiple crypto assets, enjoyed $9.7 million in inflows last week as investors sought refuge in diversity.

“[Multi-asset] investment products have seen only two weeks of outflows this year, much lower relative to its peers. We believe investors see multi-asset investment products as safer relative to single line investment products during volatile periods.”

Bitcoin could see its bottom

It’s been just revealed that an important crypto strategist is looking at Bitcoin’s previous bear markets in an effort to predict the end of BTC’s current downtrend.

Pseudonymous analyst Rager has recently said that the length of Bitcoin’s 2014 and 2018 bear cycles suggests that BTC has a long a way to go before it can carve a bottom.

“The more you look at prior BTC price history, the more one can think it’s not the bottom. After 190 days from the all-time high, Bitcoin still had another 150 to 200 days until it hit bottom last couple of cycles (red box). If time is any indicator, could be another six to eight months.”

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