Warren Buffet is also known as the Oracle of Omaha due to his time tested wisdom in the field of investing that has seen his firm of Berkshire Hathaway, fully own other companies such as GEICO, Dairy Queen, BNSF Railway, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Pampered Chef, and NetJets. The firm’s individual stock is currently worth $325,000 at the moment of writing this. Imagine that?
Perhaps Buffet’s Best Quote?
One of Warren Buffets famous quotes has been sampled by the investing community on numerous occasions, and applies to other types of investing outside the financial world. This quote is the one that states the following:
It is wise to be fearful when others are greedy, and greedy when others are fearful.
Are Wall Street firms Being Greedy When We are Being Fearful?
That one quote by Warren Buffett can perhaps summarize what many crypto enthusiasts and traders have been suspecting since early September: that institutional investors from Wall Street are buying Bitcoin (BTC) and other digital assets Over The Counter (OTC) in a process that usually goes unreported in our regular crypto exchanges and/or our favorite tracking website of coinmarketcap.com.
It is Part of the Current Accumulation Phase
After every bear market or downtrend, there is usually an accumulation phase where there is little to no market action. The last few days have been exactly like this in the crypto markets. Perhaps what many of these institutional investors are doing, is buying or placing buy orders for Bitcoin when the rest of the unseasoned individual traders have either lost hope entirely, and/or even cashed out.
Only Time Will Tell
Many crypto traders have postulated that the crypto markets should be stable in October leading up to the launch of Bakkt in November. This is due to the fact that the crypto community does not expect any bad news during this time period. The highly anticipated Bitcoin ETF decision has once again been postponed with the estimated date of another announcement by the SEC being late December.
What are your thoughts at the current market activity? Do you think that institutional investors are buying BTC when individual traders are panicking? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
