Digital Assets Data CEO Mike Alfred Describes Increased Bitcoin Enthusiasm From The Public Amidst Flying Prices
Digital Assets Data CEO Mike Alfred Describes Increased Bitcoin Enthusiasm From The Public Amidst Flying Prices
July 29, 2020
Digital Assets Data CEO Mike Alfred Describes Increased Bitcoin Enthusiasm From The Public Amidst Flying Prices
Digital Assets Data CEO Mike Alfred Describes Increased Bitcoin Enthusiasm From The Public Amidst Flying Prices
July 29, 2020

Mike Alfred, the CEO of Digital Assets Data, the analytics firm, has described increased Bitcoin (BTC) enthusiasm from the public amidst flying prices.

On July 28, the day after Bitcoin rose more than $1,000 in a 24-hour period, Alfred said:

“We are seeing more signs of increased institutional interest.”

It has been reported by TradingView.com data that crypto’s pioneer asset had a standout day on July 27 by rising from $9,930 to $11,400 within a single daily price candle.

However, by referencing two mainstream traditional financial entities housing BTC trading products, Alfred said:

“Volume was strong on Bakkt and CME yesterday.”

He also noted other inquiries from the traditional financial world.

Alfred added:

“Anecdotally, we are receiving a lot more inbound requests from traditional firms looking to get into the space quickly. I continue to be bullish.”

Alfred further explained:

“DeFi is also a very interesting development but the real economic impact is still somewhat limited.”

Likewise, the decentralized finance (DeFi) sector has seen growing interest in 2020, at least in terms of associated asset prices, as a number of DeFi assets have posted over 100% gains in 2020, often in short amounts of time.

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Alfred said:

“The DeFi-related activity is very interesting but ultimately BTC is still the ultimate barometer for the health of the ecosystem. The industry has put in a ton of work over the last two years and it finally feels like we’ve ‘earned’ sustainably higher prices in the underlying assets.”

Thus, the past two years have yielded a rollercoaster price ride for Bitcoin and the overarching crypto space.

Source: Cointelegraph | Image: Moneycontrol


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Ishita Bora

Ishita Bora is a content creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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