“Key to this rally is that it has been sustained over several weeks,” said Matt Long, head of distribution and prime products with crypto brokerage OSL in Hong Kong. “If we do see a break to the downside, it will be instructive on the direction of first-quarter flows whether we see institutions continue to buy on a potential dip.”
Imo, whether institutions will start buying up BTC on a dip isn't even a question. The question is, what price will be considered "a dip"? $25K? $20k? $15k?
In 2017 BTC went up from $4k in September to $19k in December. Using the same pattern we can expect around $50k pretty soon (BTC was $10k in September 2020).
So, what is "a dip" this time, in your opinion, guys?
Read the whole article following the link below:
https://www.bloomberg.com/news/articles/2020-12-31/bitcoin-surges-above-29-000-for-another-high-in-banner-year
