The answer is as simple as that: the FOMO times has started.
❖ The whales and exchanges wanted to take us above 10k $ to get popular media interested.
A lot of good traders on TW spotted, that they could see how persistent the bulls were just below 10k USD, and it was pretty obvious, that it didn't look like completely normal organic growth.
❖ Apart from this, there is one more reason that may have affected the price surge.
Surprisingly, it is Libra.
Though Libra is a stable coin and as it was claimed “not a threat to Bitcoin”, it was a trigger for greater mass adoption.
In contrast with last year, there are signs of renewed mainstream interest in cryptocurrencies and the blockchain technology. With the announcement of Facebook’s Libra launch, more people got interested in it.
For those who don’t have any crypto on their own, the launch of Libra may have become a sign for its legitimacy, as such giants as Facebook can’t support scammy industry.
Libra is labeled as cryptocurrency, which has made a “nocoiner” have some curiosity over the popular existing ones, namely — Bitcoin.
Technically picture is even more interesting.
Bitcoin has never been more bullish than now:
BTC Historical chart
Following simple logic, we may trace the BTC behavior within the years: since 09 Bitcoin has added another “0” every two years.
Funny but look:
2011 -10
2013 -100
2015 -1000
2017 -10,000
2019 -100,000 ?
What are your ideas as for BTC ATH this year? I would appreciate your ideas in comments.
--
Thanks for reading my short article!
In case we are meeting for the first time,
I am Eugene and I strive to make your “crypto journey” easy yet informative.
Follow me for more short & straight-forward answers on crypto