Not just Wall Street: Quant trader explains why Bitcoin price is going up

Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin (BTC). Based on various trends and data points, Trabucco said the four abovementioned factors likely contributed to the Bitcoin rally over the past months.

The support for Bitcoin from various tech companies including PayPal, banks, politicians, high-net-worth investors and billionaires are all likely pushing up the BTC price, the trader argues. If so, the medium-term prospect of Bitcoin remains bright, particularly considering that many macro and technical factors are buoying the market sentiment.

Timeline of Bitcoin, Quant