What caused the latest increase in Bitcoin?

Yesterday, Bitcoin showed an amazing growth for the first time in the last three months. In less than an hour, the cost of the main cryptocurrency increased by almost $ 1,000 and continued to grow. Naturally, such a growth should have been caused by something, but the news background does not give any intelligible explanations on this subject, so I tried to figure out for myself what could have caused such an inexplicable growth.

In addition to the fact that according to the forecasts of Tom Lee, who has repeatedly said that the period of decline in Bitcoin is over and now there is a period of consolidation, which will last 150,175 days. However, the further we are from the extreme point whereby the fall in the market was supposed to end, the more analysts are in favor of a speedy recovery of the market.

And now let’s talk about what could cause such a rapid growth. Relying on official news is extremely difficult, especially since the news background is not particularly happy. Therefore, we will rely on rumors that seem the most likely.

Namely. According to Bloomberg news agency sources, who oversees macroinvestment in Soros Fund Management, Adam Fisher received internal approval for trading in Cryptocurrencies.

Speaking at the World Economic Forum in Davos, George Soros said that because of the too high volatility of cryptocurrencies, it is premature to consider them as an alternative to real money. However, unlike many Wall Street sharks, he believes that cryptocurrencies will not collapse in the near future.

“As long as dictatorships are on the rise in the world, there will be rulers of these countries who will turn to Bitcoin in order to make a“ nest egg ”abroad,” said the billionaire.

Let me remind you that back in January, Soros called cryptocurrencies a “bubble” and said that he did not consider it appropriate to invest in them. But now, judging by the information received, his family investment firm, worth $ 26 billion, plans to trade in digital assets.

And now, after just a week, we see such a wild growth. However, according to another theory, it is unlikely that such people will buy cryptocurrency from the exchanges, most likely this will be done through p2p platforms that do not affect the rate. Although of course it all depends on the volume. I think that in a couple of days additional information will appear that will explain such an unexpected growth of Bitcoin and the market as a whole.

eg ? China no longer plays a role in the development of the market. The only scenario in which China will need to be taken into account is only when they soften their policy on cryptocurrency, but for now they have no effect on the course.

The article is interesting, although I have not learned anything new in it. But, such an article is better than none at all. Thanks to the author for keeping us informed, but I would like something more voluminous, more developed and more detailed. I myself continue to invest in Baytkoin BCN, which I advise everyone, because whoever invests will not regret it …