Analysts Expect Bitcoin to Rise Higher This Week, Here's Why

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Analysts Expect Bitcoin to Rise Higher This Week, Here's Why
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Bitcoin might show more gains today and this week: Santimentfeed. $BTC mikealfred

On Saturday, Chinese crypto journalist Colin Wu tweeted that bears had liquidated $90 million worth of BTC futures, which led him to believe that the rise above $41,600 at the start of the weekend was driven mainly by the spot market, and the derivatives market back then remained relatively cold.Will a U.S. state adopt BTC as legal tender this year?

Mike Alfred, a venture investor and formerly a founding CEO at BrightScope and Digital Assets Data, has taken to Twitter to assume that, this year, at least one U.S. state is likely to adoptHe has tweeted that several states—Arizona, Texas, California and Michigan—are in the runnings. Once any of these states makes an announcement, Alfred wrote, the Bitcoin price may soar to new all-time highs.

In the comment thread, he also posted a link to a petition to help vote for Bitcoin adoption as a legal tender, suggesting that his followers go and sign it.

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