2018-7-22 19:04 |
New, fresh money is coming into bitcoin and that has given the market a nice pump back into the USD 7400 price level.
This drove Bitcoin prices to rise around 8%, from USD 6700 to USD 7300.
What happened a few days ago was clearly a massive price wall pushing prices forward while eating away all bitcoin shorts.
Being the world’s largest asset management firm, surely any allocation BlackRock makes into cryptocurrency will most likely be tied to bitcoin (via a bitcoin ETF, for example?).
My conclusion is that Bitcoin will keep going for a few days or until we see less green volume, sustaining the latest positive price action.