QCP Shared How Bitcoin Will Continue to Rise: Institutions May Turn Around! - Coin Bulletin

Bitcoin has surpassed the 87,000 Dollar level, gaining value as a safe haven, while gold has also reached record levels due to trade war tensions and a weakening US Dollar, with institutional investor interest rising again.

Bitcoin surged past 87,000 Dollar last week, marking a strong uptrend, while gold reached its all-time high levels again. This rise was triggered by the weakening of the Dollar and increasing tensions in the trade war.

According to the report published by QCP Capital, the story of BTC regaining value as a safe haven or hedge against inflation could increase the interest of institutional investors in BTC if this dynamic continues. Gold is rising due to trade wars and a weakening US Dollar, while markets closed in the red last week and continued their decline from April. These developments have strengthened the narrative that Bitcoin will also regain value as a safe haven.

Institutional investors are turning back to Bitcoin

According to the QCP Capital report, the resurgence of Bitcoin as a safe haven or hedge against inflation indicates that institutional investors’ interest in BTC has increased. As of this week, the positive change in spot Bitcoin ETF inflows with a net entry of 13.4 million dollars is quite remarkable compared to the 708 million dollars outflows experienced last week. The simultaneous rise of Bitcoin and gold strengthens the possibility of BTC being considered a safe haven.

The rise of Bitcoin is encountering resistance at the 88,800 dollar level. This level could be a critical indicator to determine whether BTC is considered a safe haven. If a breakout occurs above this level, a new upward wave for BTC is expected.