Yes, bitcoin is having a dead cat bounce because of short-covering.
Crypto proponents are still daydreaming that the financial institutions will get onto the crypto bandwagon and push up the crypto prices. However, it won't happen because of the flawed structural design and bad economics of crypto.
http://sg-stock.blogspot.com/2018/11/a-financial-analysis-on-initial-coin.html
These financial institutions won't even use public blockchains but will develop their own private blockchains because of privacy and confidential issues.
As more people get educated about ICO & Crypto, the interest in these flawed products will decline, just like the way CDOs are abandoned.
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