Bitcoin (BTC) and the entire crypto market have shown a sharp surge since Donald Trump's victory in the US presidential election on November 5.
While institutional capital played an important role in this rise, retail investors were not left behind.
New data shows a significant increase in retail investor participation in the Bitcoin market. This is proven through Bitcoin's (SOVB) metric shared by CryptoQuant's CEO, Ki Young Ju. The data showed the number of transactions under $100,000 had jumped to the highest level in three years.
This trend shows the increased involvement of retail investors compared to large institutional players. This surge coincides with the recent rise in the price of Bitcoin.
At the same time, there was also an increase in Bitcoin transactions worth more than $1 million. Young Ju believes large-cap investors may be waiting for more retail investors to enter the market, especially as the price of Bitcoin approaches the $100,000 mark.
Although there is a possibility of a price correction, he does not expect it to lead to a sharp drop. Instead, he sees this as the start of greater market activity driven by growing interest from retail and institutional investors.
Bitcoin's recent rise to new highs above $90,000 has fueled optimism in the market. After a temporary profit-taking, the crypto-asset looks poised to surge further. CEO of ARK Invest, Cathie Wood, believes that Bitcoin still "has a long way to go."
In a recent interview, Wood stated that ARK Invest first invested in Bitcoin at $250 in 2015. Even at $90,000, he remains optimistic. He attributes its momentum to increased regulatory clarity under the current US administration.
He also added that Bitcoin is emerging as a different asset class. Institutions now recognize its unique behavior compared to traditional investments, which successfully drives wider adoption and distribution. He expects the price of BTC to reach $650,000 by 2030.
Quinn Thompson, founder of crypto hedge fund Lekker Capital, also agreed that Bitcoin's momentum had just begun and predicted that it would reach the much-anticipated $100,000 level. He is confident that it will happen by the end of this year and possibly as early as the end of this month.
