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05 March 2021

The social side of institutional push: Popular excitement drives crypto adoption

The social side of institutional push: Popular excitement drives crypto adoption


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The power of corporate players to move crypto markets comes from two interrelated sources: their own capital invested in digital assets and the capacity to lead public sentiment, often by their own example.

According to Nisa Amoils, partner at tech-focused rolling fund A100x, the fact that Tesla’s move was so consequential for the digital asset markets is no coincidence.

Amoils told Cointelegraph that “Tesla and Bitcoin have more in common than meets the eye, and it’s not only volatility,” adding further:.

Pat LaVecchia, CEO and co-chairman of digital securities marketplace Oasis Pro Markets, commented to Cointelegraph that the combination of disposable savings and the fear of missing out on the price move could instigate more people to enter the industry:.

Furthermore, Bitcoin’s daily sentiment score, which measures how positive or negative conversations on a subject have been over the last 24 hours compared to a rolling 20-day average, reached a yearly high.

Frank went on to add that Bitcoin’s long-term sentiment score, which measures how positive investors have been on the asset over the last 50 days compared to the past 200, jumped markedly, reaching the value of 75 out of 100

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