This Catalyst Could Push Bitcoin Above $22k

According to the latest reports, there is one catalyst that could push Bitcoin above $22k. Check out the new predicitons about the king coin below.

It’s been reported that Shark Tank investor Kevin O’Leary believes there’s one thing preventing Bitcoin (BTC) from getting out of its current trading range.

In a new interview with Circle CEO Jeremy Allaire, O’Leary says getting the support of US policymakers could trigger an influx of institutional capital into the crypto markets, sparking a Bitcoin breakout.

“I also believe that the one thing – just getting stablecoins [regulations] done… It’s the lowest-hanging fruit, but it would also signal to the rest of the crypto market, primarily the institutional investor market.”

He continued and said the following:

“I actually think, and this is speculation, that if you got this thing done with just stablecoins, and you got it regulated, it would increase the value of a lot of different positions that I have, including Bitcoin.”

He also stated this:

“Because they would make the assumption because we are stuck in a $17,000 – $22,000 range on Bitcoin and we will never get out of that if we don’t get institutional support. It’s just going to sit there forever.”

At the moment of writing this article, BTC is trading in the red, and the coin is priced at $19,503.

The next Bitcoin mining difficulty update — likely to occur Monday — this could be the biggest increase in over a year, according to the online publication The Block.

“Mining pool Braiins, for instance, currently estimates that it will be around 12.5%, while Bitrawr places it between 11.3% and 12.5% and Luxor at 12.6%. BTC.com has a more conservative estimate of just under 9%. While numbers can still change, they all indicate a large uptick in difficulty.”

Check out our previous article for more details.