The BTC Bulls Seem to Prevail the Battle Soon as the Institutional Fund Keeps Inflowing
The price of Bitcoin has been hovering below the $19,500 level and not been able to break out the past few days. There is potential sell-off pressure caused by the BTC whales and the miners try to sell Bitcoins when its price rises near to $19,500. However, other buying power has risen as Grayscale has already added thousands of Bitcoin to its holdings in December alone according to the news. It is expected that the sell-off pressure will be offset by the financial institutions. Bitcoin’s price at $20,000 may just be a launchpad for the next bull run.
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