Whether we suggest that the rich people (institutions) are buying all of the bitcoin or if we might have some other reason(s) about why the BTC price is going up, historically, there have been several instances in which the BTC price moved upwardly out of an historical range that it had been, but then thereafter, never did return to that previous price range, and people who had been delaying in their buying of BTC, or waiting for lower BTC prices prior to buying, ended up looking foolish in retrospect. So yeah, we have had right around 18 months to be buying BTC below $35k... so how much longer is it going to last? We cannot be sure. Are there going to be further dips below $30k? We cannot be sure.
What a substantial move we have witnessed in Bitcoin price which was worth $5000 in a single trading session
. Nobody was expecting such an impressive increase while stocks are falling. This Bitcoin has shown its real color after a long time of uncertainty, and I was glad to see that Bitcoin is eventually showing its independence from stock market. Its prior correlation with other risky markets seems unrealistic, as it is hedge against inflation and dependable store of value.https://cointelegraph.com/news/bitcoin-btc-price-breaks-34000-etf-excitement-grows