With new institutional investors coming Bitcoin reaches $28,500 and aims at $30,000

After reaching $28,500 on many exchanges, investors are now wondering whether the cryptocurrency can reach $30,000.

This Tuesday a new wave of institutional investors has arrived and is being led by the giant SkyBridge Capital that invested $182 million in the cryptocurrency. In January, the plan is to open the SkyBridge Bitcoin Fund LP fund.

Together, institutional investors hold the equivalent of $~30 billion in BTC or 6% of the asset’s marketcap.

“Although a growing institutional presence is part of the current bull run narrative, we can see an increase in retail interest in Bitcoin as a form of digital gold,” Paolo Ardoino, chief technology officer at exchange Bitfinex, told the Guardian in an email.

But in addition to macro analysis, technical indicators also signal a positive outlook for the currency created by Satoshi Nakamoto, according to independent analyst Michaël van de Poppe.

“If the price of $27,000-27,500 supports it, the continuation is likely towards $30,000 and perhaps even $32,800. If it drops from $27k, the correction is imminent.”

Meanwhile, legendary trader Peter Brandt, who correctly predicted the 2018 reversal, is sharing new analysis on the price of the main cryptocurrency on the market. According to him, Bitcoin should find a correction at some point in its trajectory, but not as strong as previous falls. “Bitcoin has been advancing in a parabolic movement since the 2018 low,” he said.

According to analysts Tone Vays and Willy Woo, a price of $100,000 would be possible even in a conservative scenario for the year 2021. At the time of writing, bitcoin is trading at $28,900, with a high of 24% in the week.

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