Brief: Why is Bitcoin Price Soaring?

As you can see, Bitcoin has gone a long way up since we looked at the price last week. We’re waiting for 16K over here to celebrate, but in the meantime, what do you think is causing the rally?

Some believe it is the institutional moves that we have reported the last few weeks — you know PayPal allowing buy and sell on its platform, Square investing in BTC and a few more examples. This makes a lot of sense since this continues to popularize cryptocurrency and demand grows. PayPal, for instance, is increasing buying limits, a show of its optimism.

In addition, whales have been a lot of BTC recently, with the latest move being very old bitcoins from 2010 when Bitcoin was in its infancy. When Satoshi was still “talking” to people online. So perhaps those whales know something we don’t? Let’s wait and see.

As we write this, the price is at $15,421 or about KSh 1,680,118. 💸

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