RATE Group | Institutional Money May Be Igniting the Current Bitcoin Rally
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Institutional Money May Be Igniting the Current Bitcoin Rally

20 Jan Institutional Money May Be Igniting the Current Bitcoin Rally

Posted at 06:13h in Cryptocurrency News by

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  • There are several theories that can explain the current bitcoin pump.
  • The revelation that Grayscale raked in close to $200 million in Q4 investments may explain why the cryptocurrency bottomed out in December.
  • New investments must keep flowing in or there’s a chance that BTC drops all the way down to $5,000.

Bitcoin recorded another fresh 2020 high Friday as it climbed to $9,000.

There are different theories as to why the number one cryptocurrency suddenly came back to life. Just over a week ago, bitcoin rallied along with gold and oil after geopolitical risks in the Middle East escalated. Some analysts claim that speculators are already positioning for the May 2020 halving. Others claim that the loose monetary policies of central banks is driving investors to take on riskier assets.

A widely-followed bitcoin bull suggesting that the halving may be driving the rally. | Source: Twitter

While these theories have their own merit, new information tells me that…

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