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Bitcoin price may pull back to $16,600 before continuing higher
Bitcoin (BTC) price is trading around 0.4% lower today as the buyers show signs of exhaustion near the record highs. Fundamental analysis: Weak supply A weaker Bitcoin supply might be one of the key drivers behind Bitcoin’s recent rally. Some analysts believe that China’s miners may be selling Bitcoins amid regulatory crackdown on local exchanges. “The lack of supply has fed extremely well to the trendiness of this rally, without any of the large sell-downs typical of miner activity in the past,” crypto-asset trading firm QCP Capital from Singapore said. On the other hand, some of the most prominent Bitcoin ... (full story)