What Explains Bitcoin’s Resurgence?
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What Explains Bitcoin’s Resurgence?
1–6 of 6 posts
Re: What Explains Bitcoin’s Resurgence?
#2In a nutshell, companies and institutions alike have come to realize that Bitcoin really is the world's hardest money, and a much better store of value than any fiat money.
Proof:
https://bitcointreasuries.org/
And that's just the tip of the iceberg.
Re: What Explains Bitcoin’s Resurgence?
#3[deleted]
Re: What Explains Bitcoin’s Resurgence?
#4Chart of the USD supply: https://fred.stlouisfed.org/series/M2 (near vertical line up.) This drives nearly all assets to new all time highs. Bitcoin acts as leverage on the S&P 500. It goes up? Bitcoin goes up more. It goes down? Bitcoin goes down more.
Combine that with a wall street actually buying a few Billion USD (Grayscale investment trust has 3% of all BTC now) and you have a receipe for compounding movement upwards. Ths price chart looks quite similar to 2017, with dips that are only 20% deep instead of 40%. We just recently had the first 30% dip after the 10x run up. In the everything bubble, crypto reigns supreme. Disclaimer: I'm biased.
Re: What Explains Bitcoin’s Resurgence?
#5In a nutshell, companies and institutions alike have come to realize that Bitcoin really is the world's hardest money, and a much better store of value than any fiat money. Proof: https://bitcointreasuries.org/ And that's just the tip of the iceberg.
Thats not the tip of the iceberg. Thats pretty good coverage of the publicly know institutions holding BTC and thats already quite a lot of BTC. The rest is held by private companies and individuals, but I doubt there are lots of notable organisations holding BTC outside that list.
Re: What Explains Bitcoin’s Resurgence?
#6Chart of the USD supply: https://fred.stlouisfed.org/series/M2 (near vertical line up.) This drives nearly all assets to new all time highs. Bitcoin acts as leverage on the S&P 500. It goes up? Bitcoin goes up more. It goes down? Bitcoin goes down more. Combine that with a wall street actually buying a few Billion USD (Grayscale investment trust has 3% of all BTC now) and you have a receipe for compounding movement u…
Why would BTC correlate with SP500? There hasnt been much correlation in the 11 years BTC has existed, only during recent year and not much really.