Bitcoin bulls are holding $19,000 as institutions keep pushing prices up

Bitcoin bulls are consolidating around $19,000 as the crypto market anxiously awaits for more institutions to push the leading cryptocurrency past $20,000.

Bitcoin bulls are holding $19,000 as institutions keep pushing prices up

At time of writing, Bitcoin bulls are consolidating around $19,000 as the crypto market anxiously awaits for more institutions to push the leading cryptocurrency past $20,000. Guggenheim Partners, with $5.3 billion in assets, is the latest institution to warm up to Bitcoin, as they disclosed in a Securities Exchange Commission (SEC) regulatory filing on Friday that its Macro Opportunities Fund held the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust. Bitcoin leaped to an all-time high of nearly $19,900 on Monday, meeting its highest level since December 2017 during peak Bitcoin hysteria. Last week, an Australian investment firm, Pendal Group, with over $73.6 billion in assets, is also planning to invest getting into bitcoin. Many of the firm’s high net worth clients have been asking about investing in bitcoin, so they complied. "We have been positioning in gold for our clients for many many years now. Now we’re doing it with bitcoin,” said one executive. Pendal Group says they will leverage bitcoin futures contracts through the Chicago Mercantile Exchange.