After a weak January, the Bitcoin price is back again and was able to regain the 40,000 US dollar mark on February 6. At the time of going to press, the Bitcoin price was $ 40,360 — a 24-hour plus of over 7 percent. Could it hit its all-time high anytime soon?
While altcoins and especially tokens from the DeFi ecosystem saw rapid price increases in January, the Bitcoin price noticeably corrected. Its market dominance fell from 72 percent at its peak in the first week of January to 60 percent at the turn of the month. Now he seems to be back and ready for the next attempt.
The BTC all-time high is $ 41,940, which means that the Bitcoin rate is only a few percentage points — around 3 to 4 percent — separate from its record high. Accordingly, the chances are good that it will mark a new all-time high this weekend.
As the analysis service Santiment announced on Twitter , the BTC accumulation on the part of the so-called whales is increasing rapidly. So it is the particularly large investors who go on a vigorous Bitcoin shopping spree. So it is also the institutional investors who are providing one message after another in the crypto market these days.
Not only announce Bitcoin mining companies record results, but also on the part of hedge funds, there are almost daily new releases. For example, this week CrossTower announced the issue of a new Bitcoin hedge fund .
At the same time, the largest Bitcoin online conference for institutional investors and companies took place this week. Microstrategy CEO Michael Saylor, who himself has already invested over a billion US dollars in BTC with his company, has stirred the drum for the digital gold. “Bitcoin will be worth more than gold” fueled the price imagination of investors and potential investors.
Above all, the Bitcoin positivism of opinion leaders such as Elon Musk or Jack Dorsey creates a buying mood among many investors. For example, Elon Musk added the Bitcoin symbol to his Twitter profile for a short time , while Jack Dorsey announced in turn that he had suspended a Bitcoin node.
Basically, it can be observed that the financial markets are more than heated. There is more money than ever in the market, and the corona rescue programs and billions of central banks ensure never-ending liquidity that flows into the financial market. This not only fuels fears of inflation, but also leads to phenomena such as wall street bets .
Due to the fact that they do not consume Corona, many private investors have more money in their pockets than usual for speculation or investment. At the same time, Corona lockdown and winter promote a lack of irritation and the longing for “action.” Quite a few investors are bored and have a lot of money at home in front of their PC. In addition to the macroeconomic factors, these circumstances should also contribute to the fact that a lot of money flows into Bitcoin and other assets.
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