{"id":107486,"date":"2021-01-06T16:46:11","date_gmt":"2021-01-06T16:46:11","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107486"},"modified":"2021-01-06T16:46:11","modified_gmt":"2021-01-06T16:46:11","slug":"bitpay-cco-gives-bullish-impression-on-where-btc-could-go-in-february","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitpay-cco-gives-bullish-impression-on-where-btc-could-go-in-february\/","title":{"rendered":"Bitpay CCO gives bullish impression on where BTC could go in February"},"content":{"rendered":"<p><strong>Quick take<\/strong><\/p>\n<p><strong>1 minute read<\/strong><\/p>\n<ul>\n<li><strong>Over the past few months, many people have been looking at the world of cryptocurrency in a much more serious light.&nbsp;<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Institutions and retail investors alike are putting their money into bitcoin with many speculating that institutional investors are planning to hold onto their coins for years.<\/strong><\/li>\n<\/ul>\n<p><span>Over the past few months, many people have been looking at the world of cryptocurrency in a much more serious light. Institutions and retail investors alike are putting their money into bitcoin with many speculating that institutional investors are planning to hold onto their coins for years.<\/span><\/p>\n<p><span>To that end, the chief commercial officer at Bitpay isn&rsquo;t 100% sure on this. In his opinion, he believes that these companies could sell their holdings sooner than they originally planned, especially if the price is going to continue spiking.<\/span><\/p>\n<p><span>Speaking in an interview with Bloomberg earlier this week, Sonny Singh said the following:<\/span><\/p>\n<blockquote>\n<p><span>&ldquo;A lot of the institutional buyers bought in around $20,000, so that would be my floor for how far Bitcoin could go down.&rdquo;<\/span><\/p>\n<\/blockquote>\n<p><span>He went on to say:<\/span><\/p>\n<blockquote>\n<p><span>&ldquo;All those buyers that bought in, they said &lsquo;Oh were into Bitcoin now for a three to five year time horizon,&rsquo; which is great, but I think if Bitcoin hits $45,000 next month or so, they&rsquo;re going to say, &lsquo;wow we just made 2x, you know, we don&rsquo;t need that three year horizon anymore, let&rsquo;s start selling some.&rsquo;&rdquo;<\/span><\/p>\n<\/blockquote>\n<p><span>Many institutions got involved in the crypto space towards the end of last year. Companies such as MicroStrategy have put a large amount of their profits into the leading coin.<\/span><\/p>\n<p><span>Predicting bitcoin to hit $45,000 by February is an ambitious price point to say the least. That being said, $20,000 was seen as an ambitious price point just a few months ago and now we are seeing bitcoin it&rsquo;s an all-time high of over $35,000. Nothing is impossible but it is worth mentioning that we are not financial advisors and this is not financial advice. Please do your own research before investing in a cryptocurrency such as bitcoin.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptodailycdn.ams3.cdn.digitaloceanspaces.com\/uploads\/2020\/10\/ducactus-banner2.jpg\"><\/p>\n<p><span>For more news on this and other<\/span><span> crypto<\/span><span> updates, keep it with<\/span><span> CryptoDaily<\/span><span>!<\/span><\/p>\n<p><em><span>&copy; 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.<\/span><\/em><\/p>\n<p>Related TAGS: <\/p>\n<p>You can share this post!<\/p>\n<p>Source: <a href=\"https:\/\/cryptodaily.co.uk\/2021\/01\/bitpay-cco-gives-bullish-impression-on-where-btc-could-go-in-february\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take 1 minute read Over the<\/p>\n","protected":false},"author":3,"featured_media":107485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitpay CCO gives bullish impression on where BTC could go in February - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bitpay-cco-gives-bullish-impression-on-where-btc-could-go-in-february\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitpay CCO gives bullish impression on where BTC could go in February - 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