Bitcoin Bulls Are Back 🐮

Bitcoin Bulls Are Back

The recent rally in Bitcoin has brought the crypto enthusiasts and HODLers out of the woodwork and piling back into the markets with renewed hopes of a 2017-style bull market. But what’s caused the sudden surge?

Most likely a number of things. Bitcoin has surged over 100% since the start of 2019 and almost 50% since the start of April alone. That’s some pretty explosive growth, but the inherent unpredictability of virtual currencies has many wondering what the causes might be.

One of the top potential reasons has been the return of the trade war, which has sent global stock markets tumbling and investors fleeing in search of non-correlated, ‘safer’ assets. And while it’s hard to think of cryptocurrencies as ‘safe’ in any context, Bitcoin is a pretty good non-correlated alternative to the stock market. Who’d have guessed it??

Not only that, but the attitude amongst institutions is slowly warming towards the crypto market with sizable companies, such as Fidelity opening up Bitcoin products to their clientele. The CME group’s Bitcoin futures contracts also experienced record demand on Monday to the tune of $1.26bn in daily volume, indicating a strong turnaround in institutions’ attitude towards crypto.

Another possible, but less likely, reason is Chinese investors moving their money out of Yuan into Bitcoin as the domestic currency plummets to its lowest level since December. Even though Bitcoin trading was banned in China in February 2018, investors are still able to buy it from shady OTC dealers, but it’s hard to tell if these volumes would have enough power to move markets.

Whatever the causes, the Bitcoin bulls are back and smiling. Let’s see how much stamina this rally has got.

Avengers Crushes Box-Office Records

Share:
More Posts
Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.