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Pancake Swap $13.318 Up for the day:+22.32% Up for the week +117.63%
Valentine’s Day Led to Some Strange Bitcoin Behavior
With each major announcement like the one BNY Mellon made, other institutions are spurred to more rapid adoption and deployment of digital assets. Tesla’s recent announcement will embolden other large corporates and institutions to accept crypto.
This would have all been great granted bitcoin decided to remain where it was. However, following the spike, the currency decided to take a nosedive south, suggesting that perhaps the rise was nothing but a simple product of temporary hype.
Some of the reasoning behind bitcoin’s sudden fall may have to do with the Chinese Lunar New Year, which has seemingly led to minor drops in the past.
There’s this unadulterated wave of big players [buying] that has continued to push the price higher. We might be seeing one or two big funds just cashing out. The big question is, ‘OK, you want to buy the pullback, but how big is the pullback that we are talking about?’
Edited by Rogerdodger, 18 February 2021 - 03:36 PM.