Bitcoin Rages To New Highs But Takes This Along With It

avatar

Blue Cream For Men _ Masculine themes Twitter Post.png

You love waking up in the morning and seeing this...
bitc.jpg

With a new fresh market cap of 1.2 Trillion dollars bitcoin is at almost all new highs. I'll be honest I didn't expect for a increase like this any time soon and thought maybe we would fall below 30k some time this month. However there are a few things different this time around.

  1. There is a lot of "influencer" backing right now on bitcoin and crypto in general. This backing come from wallstreetbets and Elon musk with many others following tail. This in itself will spark interest and for people to take action and from that increase the price. Is that the best way to increase price? Not really but it's still going to happen as most people don't understand outside of bitcoin what Cryptocurrency really is.

  2. The biggest difference with this rally over others is it's taking many altcoins with it this time. This is showing us a flood of new money coming into crypto but also being injected into other assets instead of just bitcoin.

Now this is a very good thing as it means this money will most likely stay within crypto and not be flushed out again to USD like we saw with the last rally. That money will be instead injected into projects such as Hive, Decred, 0x, Meme coin Doge lol, Maker etc.

What I'm not seeing however is it being injected into DeFi projects which has me wondering at the moment.

leoline.png

What will be interesting to see next is where those funds flow to. Will they be within DeFi projects or another projects as I don't believe they will sit within Bitcoin. Ethereum also took a hit yesterday coming off of its all time highs which makes me think even more that it's being injected into something else.

From the looks of it BNB might ever well be the reason behind this one.

leofinance_popup03.png

Posted Using LeoFinance Beta

crypto bitcoin neoxian palnet ash archon ctp list leofinance
0
0
0.000
5 comments
avatar

We live in interesting times, for sure. !BEER

0
0
0.000
Reply
avatar

Pretty interesting development at the moment. In theory, the market should be in a consolidation phase right now, but with all the money coming in it's just not happening. We might see a harsh dump if things get in motion and stupid money starts to panic or we might see things just moving further up. Extremely hard to predict right now...

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

I'm curious if we just hit it and we will see a mass sell off tonight/ tomorrow or if BNB continues to fuel things.

Posted Using LeoFinance Beta

0
0
0.000
Reply