This week's key events

in #bitcoin • 3 years ago (edited)

After a pause, Bitcoin will continue to rise

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After an unsuccessful attempt to surpass $50,000, Bitcoin (BTCUSDT) consolidated in the range of $46,283.80 and $50,482.00. However, after a short pause, the pioneer currency of the crypto market may resume its rise upward.

Here are four reasons to buy Bitcoin right now:

  • Institutional investors are still showing demand. For instance, Morgan Stanley is increasing its positions in Grayscale Bitcoin Trust. Its unit, Morgan Stanley Insight Fund, acquired 928,051 shares of GBTC for $27,665,000.
  • The Bitcoin Total Transfer Volume to crypto exchanges is falling, which indicates that market participants are prepared to accumulate BTC.
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3 years ago in #bitcoin by
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