These factors are as follows:
1. Squares have recently invested $50 million into bitcoin. This is 1% of the total worth of the company, showing the faith that this company has in this investment. With the large investment, demand has increased and supply has been lowered.
2. According to the Bollinger Band indicator the volatility of bitcoin could be lowering now and this could be settling at a higher price.
3. Lastly, the amount of bitcoin activity on the blockchain has been increasing rapidly, reaching all time highs of even the hash rate.
What do you guys think?/ Will the price of bitcoin surge past the 11k mark? Would this be a good time to invest in this coin?