Several altcoins are moving to new all-time highs as bulls struggle to lift Bitcoin price above $60,000.
A report by Deutsche Bank Research said that Bitcoin (BTC) has become “too important to ignore” and may attract regulation by the end of 2021. Deutsche Bank analysts expect Bitcoin to reach a turning point in about “two or three years” when it will be clear whether Bitcoin will evolve into an asset class or not. In the short term, the report forecast Bitcoin to “remain ultra volatile.”A different report by Bank of America provided some insight into the possible reasons for Bitcoin’s volatility. Bank of America analysts estimated that Bitcoin price may rise by one percent when there is a $93 million inflow. Compared to that, gold needs about $2 billion worth of funds to move it by a single percentage point.This large disparity in the price reaction to the inflow of funds is attributed to Bitcoin holders who
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