Is Bitcoin price rallying due to problems with Chinese miners?

[Mac10]

I read an [URL deleted] article published by CoinDesk yesterday where analysts from QCP Capital suggested that the rise in the price of bitcoin, which has lasted for over two months, is associated with a drop in crypto sales by Chinese miners.

[URL deleted]

I beg to differ. From what I have noticed in the last eight weeks, there has been an increased entry of institutional investors into the crypto assets market with considerable capital.

The entry of Nasdaq-listed company MicroStrategy, payment giant Square and others has probably put upward pressure on prices.

Also, their Bitcoin investments likely stimulated widespread market sentiment and encouraged many buyers to enter the market.

What do you think?

 

[PaulReidG]

And this is not the only case with Chinese miners.

 

[Dora_WalletInvestor]

I think the issue with Chinese miners and the increased presence of institutional investors are both at play here, they probably both had a role in the price shooting up.