Institutions Are Buying The Dip
Bitcoin has moved up from @ $32,000 this morning to $38,445. Meanwhile, institutions are buying the dip. A little suspect if you ask me but new people to this fall right into the trap.
- BTIG’s Julian Emanuel is keeping his year-end target of $50,000 on bitcoin, despite its wild sell-off.
- Institutional investors were buyers of the currency after it plunged to $30,000, he said.
- Emanuel said the sell-off was in part sparked by new regulations from China, and the potential for U.S. regulations hangs over the crypto market.