Bitcoin’s Price Could Skyrocket to $120,000, Fueled By Positive-Feedback Loop, Says Analyst

The price of Bitcoin (CRYPTO: BTC) could soar above $120,000 if miners continue to hold onto tokens, according to Standard Chartered analyst Geoff Kendrick, Business Insider reports. What Happened: Kendrick suggests that the behavior of Bitcoin miners, who often sell fewer tokens when the price climbs, could create a positive feedback loop that propels Bitcoin’s price beyond already-bullish forecasts. “And so your point about this becoming self-fulfilling, I suspect is actually a very important driver,” he said. See Also: Elon Musk’s Tesla Cybertruck Spotted Sporting Clever Disguise Masqueradi…

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