$12K Bitcoin Price in Sight as Retail, Institutional Traders Turn ‘Greedy’

Cointelegraph

Published Aug 14, 2020 12:14AM ET

Updated Aug 14, 2020 02:00AM ET

After recovering 6.3% from a drop to $11,200 on Aug. 11, Bitcoin (BTC) price appears to be gearing up for a third run on the $12K mark.

This comes after a week of bullish news which included Nasdaq-listed investment firm MicroStrategy purchasing 21,454 BTC as protection against the weakening U.S. dollar, Coinbase exchange offering Bitcoin-backed loans, and the revelation that BlackRock (NYSE:BLK) and Vanguard are major holders of MicroStrategy shares.

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