Bitcoin Bull Run Still On Its Way As Big Investors Enter The Market.
2021-02-08 | Big Bob
Bitcoin [
BTC] price rose above $40k recently on Saturday
as the leading crypto asset has nearly regained all its losses suffered since reaching an all-time high recorded earlier in this year.
BTC hit $40,538.66 before falling back to $40,272.56, up 4.91%
within the last 24 hours, putting it back within striking distance of the all-time high of $41.962.36 USD
recorded recently on 8
th Jan.
After touching that
top line, BTC lost nearly
a 3rd [31.25%] of its value
and every one of its spectacular year-to-date gains, bottoming out at
$28,845.31 USD recorded on 22nd Jan.
After moving sideways for
every week approximately, over the last week, BTC has made a string of upward moves, culminating in today's rise. Year-to-date BTC's gain is 36.91% and it's up 39.72% from 22
nd Jan.
While assisting to drive this new run is fresh interest on the
part of institutional money like Ray Dalio’s Bridgewater Associates, which manages $150 Bln in investor money,
along with the Miller Opportunity Trust.
It's going to even be getting
a lift from MicroStrategy's WORLD.NOW BTC-themed conference held this past week.
“Bridgewater’s piece out last week had a sensitivity analysis that revealed their estimates of BTC price, should private holders of the gold switch to BTC,” states a weekly investor added Friday from quantitative trading firm QCP Capital.
“They forecasted that ought to 50% of capital in gold enter within the leading cryptocurrency Bitcoin [BTC], that might end at a price of $85,000 USD per 1 BTC soon.”
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