Inexperienced traders usually chase prices higher during the end of the bull phase as they fear missing out on the rally. However, institutional investors tend to wait for the froth to settle before entering. Bitcoin’s (BTC) bear market in 2022 ended the hype that was seen in 2021.
Fred Pye, CEO of 3iQ, Canada’s first fund issuer, said in an interview with Cointelegraph that as “the FOMO in Bitcoin is gone” institutional investors and portfolio managers have started to take a look at it as “a serious venue.”
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