You are viewing a single comment's thread from:

RE: Bounty: 10 steem - Any news related to this +1'000 USD BTC jump?

in #bitcoin6 years ago

I'm going to speculate that it's because today is the last trading day in the US equity markets before the biggest companies start reporting Q1 earnings. This is important because the market is forecasting that we'll be seeing the highest year over year growth in earnings in 11 years due to recent tax reform. I think this will absolutely be a case of the market buying the hype and selling the news because it's unsustainable and there's very little bull case left in the foreseeable future whereas the bear cases are piling up (ie. Exploding debt growth, rising inflation and rates). Therefore i think a significant amount of smart money is hopping into crypto as a safe haven to hold onto wealth during these uncertain times.

Sort:  

Coin Marketplace

STEEM 0.20
TRX 0.13
JST 0.030
BTC 63713.30
ETH 3389.19
USDT 1.00
SBD 2.62