The derivatives trader JSterz warned that Bitcoin price might explode if it goes above $13,000. According to him, there are signs that an intensely strong bullish advance may soon arrive. At this time, Bitcoin futures contracts expiring in March 2021 are priced 6% higher than the BTC/USD spot price at around $12,280.

Also, Ikigai fund manager Travis Kling commented, uploading an overview chart to Twitter. He said that there are “bullish signs”.

Furthermore, cryptocurrencies are getting more recognition as institutional investment in Bitcoin is expanding, following a dramatic buy-in from multibillion-dollar Microstrategy in late July. Also, Grayscale has made a record investment in its various cryptocurrency funds, as Bitcoin outperforms gold as a fiat hedge.

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