Bitcoin is up amid reports of institutional buying.
Yesterday, the Wall Street Journal broke the news that the PayPal co-founder, Peter Thiel, whose Founders Fund had bought millions of dollars of Bitcoin. However, it wasn't clear whether Founders fund had sold any of its holdings.
Last week, South Korea said that it might shut down some of the Bitcoin trading exchanges. The news sent the Bitcoin instantly lower; however, the fall was short lived although fast and furious.
Bitcoin seems to be caught in between the fierce bullish and bearish news that may suggest further price consolidation is needed and the process may linger for an extended period of time.
Those who had sold the Bitcoin above $19,000 appeared to be the winners for the time being.