Price analysis 1/27: BTC, ETH, DOT, XRP, ADA, LINK, LTC, BCH, BNB, XLM
Cointelegraph
Published Jan 27, 2021 01:40PM ET
Updated Jan 27, 2021 03:40PM ET
Public companies have purchased about 85,000 Bitcoin (BTC) in the past year and institutional investors have pumped money into Grayscale Investments, which shows increasing institutional adoption is one of the main reasons for the recent Bitcoin rally.
However, at the moment it seems institutional investors are unlikely to chase prices higher. If the fresh inflow of money stalls or reduces drastically, it could result in a pullback in Bitcoin’s price. If that happens, short-term traders and momentum players may book profits and trigger a deeper correction.
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Written By: Cointelegraph
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