In Koerskijken John van Meer takes you through the course of Bitcoin (BTC). The video updates can help you make decisions, but they are not harsh predictions. Bitcoin’s price has gone through the $20,000 markup, so it’s time for an extra update.
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Bitcoin (BTC) Analysis
In the video above, John discusses a number of timeframes of the bitcoin course. He concludes:
„Bitcoin finally broke the $20,000 limit today. The real FOMO has yet to start with the media that will probably be cranked up again. The support that needs to hold is between $19,666 – $20,000. Then the price could certainly go up to $21,800 and higher“.
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Where does this bitcoin increase come from?
Bitcoin price breaks a new record today, but where does this increase come from this year? This price has thousands of different causes. One of the most notable changes this year is the larger investors.
Banks, tech companies, insurance companies and tech funds are increasingly finding ways to buy bitcoin. For example, it was announced today that a British fund manager for $744 million Bitcoin bought ‚as an insurance policy against inflation.
This year’s most prominent example is MicroStrategy. The U.S. company originally focused on business intelligence software, but under the leadership of their director they are now fully committed to bitcoin.
Recently, MicroStrategy raised $650 million to buy Bitcoin. They use bitcoin as a potting agent and through this investment round they are also speculating on a higher price.
At the other end of the spectrum are the private investors. Parties such as PayPal, Square, but also all Dutch brokers constantly have to buy bitcoin from the market to meet the demand of their customers.