Bitcoin has faced a slight reversal since the highs of $11,750 set a number of days ago. The BTCUSD from TradingView.com
Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin
Fundamental Trends
Fundamental trends support the expectations for a trend of growth for Bitcoin. Tyler Winklevoss, the co-founder of Gemini, believes that Square and MicroStrategy buying Bitcoin will bring a wave of capital towards this space in the near future:
“First, it was @michael_saylorand publicly traded @MicroStrategybuying $425million of #Bitcoin. Today, it is @jackand @square buying $50million of bitcoin. Tomorrow, it will be another visionary leader, and another, and another…the tsunami is coming”
This has been echoed by a swath of other analysts.
Dan Tapiero, the co-founder of Gold Bullion International, thinks that the cryptocurrency could surge higher as institutional investors accumulate more Bitcoin than being mined. This suggests that there will be a net inflow of capital, driving prices higher.
The institutional investment case for Bitcoin has grown over recent months and years. Fidelity Investments released a report recently noting how a small allocation to BTC can minimize price downside and amplify upside.
Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Analyst Who Predicted V-Shaped Reversal Thinks Bitcoin Will Hit $12k
