Bitcoin (BTC) has seen a massive surge in the past two months, in particular, as institutions jumped into the new asset class. The latest is Blackrock (NYSE:BLK), announcing interest in trading in Bitcoin futures while Grayscale continues to scoop up BTC at an accelerating pace.
However, after a massive surge, the asset’s price has to come down for some tests of support as investors take profit. This is the beautiful cyclical nature of supply and demand.