Why Did Bitcoin Suddenly Rally To $29K? Crypto Analyst Points To 90-Year-Old Market Theory
Portfolio Pulse from Mehab Qureshi
Bitcoin (CRYPTO: BTC) is trading around $29,000, driven by increased investor optimism following crypto initiatives by financial institutions. Crypto Analyst 'Tony The Bull' suggests the Wyckoff Method may have predicted this trend, with large institutions like BlackRock and Charles Schwab acting as the 'Composite Man'.

June 21, 2023 | 11:45 am
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Bitcoin's price is hovering around $29,000, driven by increased investor optimism and crypto initiatives by financial institutions. The Wyckoff Method may have predicted this trend.
The article suggests that the recent uptick in Bitcoin's price is driven by increased investor optimism following crypto initiatives by financial institutions. The Wyckoff Method, which focuses on understanding market behavior, may have predicted this trend. Large institutions like BlackRock and Charles Schwab are believed to be acting as the 'Composite Man', accumulating assets when prices are low and driving up prices. This indicates a positive short-term impact on Bitcoin's price.
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