Bitcoin surged a lot in the past couple of months to a all time high.
But the gold standard of cryptocurrency breaking its all time high again and again. Thanks to positive news around the world.
Countries Including India, China, Russia, Japan all are reconsidering the cryptocurrencies to be included in to their system.
Investors are still bullish on the currency and expect a 4000$ mark in the near future.
The rally seems to attract a larger crowd towards the cryptocurrency era and that is a good thing. But the rally might itself block out from the people who wish to embrace it. The sustainability of the price surge is also debated due to some negative news including the bitcoin unlimited, segwit issues.
Despite all the noise it does tell us a scenario we are currently heading right now.
The world is uncertain about the growth. Growing geopolitical conflicts around the world and growing debt causes panic in people.
But despite all the negative buzz around the monetary system, stock markets around the world are rallying without a solid reason. And that's terrifying people a lot. They fear to protect the wealth and running out of options as the precious metals are also expensive. Now they are having a perfect asset to invest in terms of cryptos. We are experiencing such pouring of money into cryptos available in markets.
Whether those money will stay in the crypto system forever is questionable. But lets wait and watch how the scenario is panning out. Lets enjoy the rally for now
The extra miney coming into cryptoworld has nothing to do with the stock exchanges IMHO. They are doing kind-of-well as well. But, more money coming into cryptoworld has a lot to do with the increase of attention of cryptos, the governments and commercial business around the world adopting slowly crypto technology, that fuels mass media, and that fuels more money into crypto, and that fuels increase of crypto (artificial) values, and that fuels risk tacking investors from the 'normal' financial markets. At least that is how I look at things :)
If you find the stock markets around the world. All of them are now at their record levels and definitely are expensive. Adding uncertainty make the investors to cautious in investing in stocks and hence the wild wind towards cryptos. If you watch closely, there are lot of investors who are uncertain about bitcoins in the past had been investing now only.
I understand where you coming from, but I disagree.
IMHO, this is because the foundation BTC created get more stable, more cryptos around with a better story than just a coin. BTC also more stable as a currency etc etc etc. The risks are now manageable, whereas a couple of years ago BTC could still be binned, now with all the new realities, it looks BTC has a real future. Interesting fact is that BTC has a lot of drawbacks, newer coins have much better technology and will be more useful for commercial services, payment systems etc but the investments goes into BTC.....Why? Because it is the most stable coin, it is by far the largest market cap, it is the most well know, it is the coin the media talks about. Any investor is always looking for maximising profit whilst de-risking their investments, ie keep it somehow under control. Only the SF type of investors and some in the banking system are going for RISK only, and some or more fall down so hard they even end up in jail.
I agree with the development stuff and all others had gained trust globally for BTC.