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Bitcoin Price Predictions: Market Is Reacting To Genesis Global Capital Bankruptcy News

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On January 20th, Bitcoin is trading at a range of $20,600 to $21,650. The reason for its winning streak might be linked to the fact that the market reached its greatest level of investor confidence since July.

Meanwhile, institutional investors are the key drivers of the demand for Bitcoin.Data released by the crypto analytics firm Santiment shows that the trading crowd's sentiment has reached its highest level in the last six months and its second-highest level of bullish sentiment in the last 14 months.On the negative side, institutional cryptocurrency brokerage Genesis Global Capital is preparing to file for bankruptcy.

This was considered to be a significant element in keeping the lid on any more gains in cryptocurrencies. It's important to note that Genesis is now holding confidential conversations with a number of creditors.The firm has since issued a warning that it could potentially file for bankruptcy.

Bitzlato Ltd., a Miami-based digital marketing agency, is charged with money laundering by the US Justice and Treasury Departments.

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