Analysts Eye Bitcoin Move Past $16,000 as Buying Pressure Continues

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Bitcoin has dropped since its highs of $15,975 set last week. The coin trades for $15,300, which is still far above the lows of $14,300. Analysts think that Bitcoin could resume its ascent above $16,000 in the coming days as the price holds the $15,000 region. A trader shared a chart showing that Bitcoin could soon pass $16,000 for the first time since early 2018, then continue higher once it takes that support. Per that chart, BTC remains in an uptrend, having bounced since the aforementioned lows and holding key support levels. Boosting the bull case is the news that Stanley Druckenmiller, a legendary macro investor, has bought Bitcoin. He explained in a CNBC interview that he thinks Bitcoin has “a lot of attraction in it” from millennial investors and “West Coast money.” Bitcoin Could Soon Move Above $16,000: Analysts Analysts think that Bitcoin could resume its ascent above $16,000…

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