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Bitcoin Close to $11000- Is the Wall Street Acquisitions Behind the Surge?

Highlights

    Bitcoin that trended with a very narrow margin is on the verge to touch $11000 mark

    Additional millions pour in from the Wall Streets which gave a push to BTC price

    BTC price is expected to attain the previous highs above $12000 soon.

Bitcoin Continues Uptrend Above $10900

Bitcoin has managed to surge as much as $700 in the last 24 hours from $10200 to more than $10900. It has jumped nearly 40 percent in the last 24 hours, priced at $10,904 at the press time with a change of 4.48 percent.

bitcoin above 11000

As Coinpedia reported earlier, that if Bitcoin touches and holds above $10450, then it could possibly reach till $11,000 mark. Also, the traders and the investors also tried very hard to maintain above $10000.But now, the digital asset has formed new support levels near to $10800, then there are more possibilities to shoot up till $11500 in a couple of days.

Interesting Read: Bitcoin Expected To Attain A New ATH By Oct 2020

Another $175 Millions Pour In from Wall Street

A Nasdaq listed intelligence company, Microstrategy which had purchased $250 million worth bitcoins in August 2020 has added up more now. The founder and CEO of Microstrategy, Micheal Saylor took on twitter to announce the additional acquisition of Bitcoins.

The company had earlier said that it may invest an additional $250 million in Bitcoin purchase. However, the CEO announced the procurement of 16,796 bitcoins accounting to $175 million.

“To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses,” he said

Conclusively, Bitcoin might have dumped the correction phase after the steep decline from above $12000 to below $11000. Therefore, many analysts and traders look forward to a major breakout for the digital asset that could bring back the price above $12000.

Also Read: The Bitcoin Bull Run Speculated With Surge in Market Cap of This Stablecoin

Summary
Article Name
Bitcoin Close to $11000- Is the Wall Street Acquisitions Behind the Surge?
Description
Bitcoin that trended with a very narrow margin is on the verge to touch $11000 mark Additional millions pour in from the Wall Streets which gave a push to BTC price BTC price is expected to attain the previous highs above $12000 soon.
Author
Sahana
Publisher Name
Coinpedia
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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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