Analyst: Ongoing Bitcoin Rally Driven by a Handful of Strategic Buyers; Where Will They Send BTC Next?

Over the weekend the crypto markets incurred a massive influx of buying pressure that extended the upwards rally they have incurred over the past several weeks, with Bitcoin setting fresh year-to-date highs at $7,800, up significantly from its 2019 lows of $3,400 that were set in February.Although it is always somewhat unclear as to what, or who, drives these rallies, one prominent economist and analyst believes that a small handful of large buyers who are actively engaging in strategic buying have driven this surge.Bitcoin’s Surge to Year-To-Date Highs Not Driven by Retail InvestorsAt the time of writing, Bitcoin is trading up over 11% at its current price of $7,750, up from daily lows of $6,800 which were hit yesterday.Bitcoin’s journey to its recently established year-to-date highs first began in early-April when Bitcoin swiftly surged from the lower-$4,000 region into the $5,000 region, at which point it traded sideways before forming…

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