Bitcoin has started 2021 off with a bang. Here’s what investors and analysts think is driving the rise (and today’s dip) as well as predictions for what happens next.
The end of December was a momentous time in bitcoin’s history. Not content to clear the psychological barrier of $20,000, bitcoin’s price smashed up almost all the way to $30,000, although it would take the turn to the new year to hit that new high-water mark.
In this episode, NLW looks at interpretations of why BTC is rising, why it dipped today and what analysts and investors think will happen next. This analysis includes:
- Evidence of institutional FOMO including a rise in bitcoin whale addresses
- Massive outflows from Coinbase Pro over the weekend
- The impact of derivatives liquidations that occurred Monday morning
- Commentary from OTC desks on Q1 2021 possibilities
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