As Bitcoin makes newer and newer highs, it finally broke above $18,000 today and is a whisker within reach of its old peak of $20,000 back in 2017. At the time after falling down to sub $5000, it was labelled as doom and gloom. After two and half years, it has defied gravity and recaptured its upside momentum. We all know the demand vs. supply argument especially the halving that takes place every four years, diminishing the supply of Bitcoin more and more. Despite this, the demand side was the one that was never understood properly. Nor is it today to an extent as it is debated and dismissed by a whole generation of legendary traders who think it’s another hoax, a tool for the Millennials to gamble on the future. So, what changed?
Globally, central banks’ balance sheets have reached $86 trillion, and counting. The world is awash with […]
November 20, 2020 (updated November 20, 2020) Published by StockMan