Analysts have argued that much of Bitcoin’s recent upward price action is a byproduct of institutional players entering the fray. Open interest in the CME’s Bitcoin futures market, along with on-chain trends, suggests that a number of large players are the ones accumulating the coins, driving prices higher.
An analyst says that once retail investors begin to enter the crypto market en-masse, BTC will likely pass $20,000, triggering price discovery.
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https://cryptoslate.com/analyst-says-retail-investors-entering-bitcoin-market-will-push-prices-to-20k/