❕NEWS – Three factors show that bitcoin price may hit $11k once again | Proxies-free


As we all know, the price of bitcoin has been doing well lately, maintaining itself above the $10000 mark, however during the month of October we have yet to see the price of bitcoin hit the 11k mark. This may be happening soon though as analysts say that there are three factors which clearly indicate that bitcoin price may start to increase to and possibly beyond the 11k mark.

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?