BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA

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Hong Kong tech company Meitu announced on April 8 that it had added $ 10 million worth of Bitcoin (BTC) to its holdings, which were bought at an average price of $ 57,000 per coin. After the last purchase, Meitu’s entire cryptocurrency portfolio consists of Bitcoin valued at $ 49.5 million and Ether (ETH) valued at $ 50.5 million. This acquisition shows that institutional investors are confident that the rally in Bitcoin is still in its early stages.

Tom Jessop, head of Fidelity’s crypto division, believes Bitcoin has reached a tipping point and that traditional financial firms will continue to aggressively adopt the cryptocurrency for the next several years. Jessop believes the massive monetary stimulus from governments and central banks has accelerated institutional adoption, and this is a trend that could extend for at least another year.

Daily market performance in cryptocurrencies. Source: Coin360

It’s not just institutional investors plunging into cryptocurrencies. Data shows that the number of retail investors trading cryptocurrency has also increased. Popular trading app Robinhood reported on April 8th that crypto trading on its platform rose to 9.5 million users in the first quarter of 2021, a four-fold increase from the fourth quarter of 2020.

As crypto adoption increases, some older financial firms are still taking an anti-crypto approach. HSBC has reportedly blacklisted MicroStrategy stock and will not allow customers on its HSBC InvestDirect platform to buy shares in the company.

Will Bitcoin and large altcoins extend their uptrend and attract more buyers, or will they enter a correction phase? Let’s analyze the top 10 cryptocurrency charts to find out.