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#1618
Lance Thompson
280 Posts

Yeah………..

As of right now on Tuesday, January 14th, 2020 Bitcoin is up +$681.16 to $8,822.29 on what “feels like” very strong institutional buying. I’m quite sure many of you all are asking “Well what took so doggone long??” which is an excellent question. One that I’ve been contemplating myself. At this point, until a few institutional investors come on Bloomberg & CNBC and confirm what is driving the current crypto bullrun, people like you & I can only speculate and guess. Here’s a few things I think may be fueling the current run we’re on:

#1. One institutional investor said months ago that “historically” Bitcoin has always gone on a bullrun whenever the S&P 500 has hit new highs. Well the S&P, Dow and the NASDAQ have all been hitting new highs since the U.S. & China agreed to cease with the trade war and to agree to Phase 1 of the New U.S./China Trade Deal. Within the next few days I would imagine that the Dow will close above 29,000 for the 1st time in human history y’all!! I repeat, for the 1st time in human history!!

#2. Bitcoin will be halving in May which means that the amount of Bitcoins available for purchase will be cut in half. Needless to say, fewer coins?? Means a higher price for Bitcoin and institutions are anticipating that.

#3. The tracking of Bitcoin purchases which led to the busting up of that child pornography ring based in South Korea back in October I think was HUGE for making Bitcoin no longer be viewed as a safehaven for criminals and terrorists as it has been labeled by Dr. Nouriel Roubini and several other cryptocurrency skeptics……By the way, since Bitcoin was used to catch the guy running that child porn site on the dark web there’s been no Nouriel Roubini sighting. I’ve been looking all over YouTube for videos of him trashing Bitcoin since the date when that story broke but haven’t been able to find any clips with any interviews done with him. Anybody seen him?? Feel free to hit me up with any clips recorded of him discussing cryptocurrencies or Bitcoin since that date if you can find any. He’s starting to look like all other know-it-alls….All out in the open when he’s right…Nowhere to be found when he’s wrong.

#4. President Trump, Treasury Secretary Mnuchin and the Chinese Government have ALL come out trashing Bitcoin and cryptocurrencies and the Chinese Government has shutdown multiple cryptocurrency exchanges on the Mainland (without outright banning it) which made institutions very “skittish” about whether or not cryptocurrencies could end up permanently banned by World governments……then China goes public with their plans to launch their own digital currency, the U.S. Federal Reserve Bank announces that the U.S. too is looking at the possibility of launching a U.S. digital currency, Saudi Arabia then announces that it too is contemplating launching its own digital currency, several U.S. lawmakers have come out and publicly stated that “cryptocurrencies are here to stay” and in addition to that, the U.S. Securities & Exchange Commission has approved the launching of Bitcoin futures sold by both Bakkt and CME. Hmmmm……I think that market makers (institutional investors) looked at those things and then shot a side-eye at the SEC, Trump, Mnuchin and China and basically said “Y’all full of $–t”. So institutions now believe that those governments are just blowing smoke up their backsides. Oh one last thing, some of you may be wondering “Well what’s the difference between a cryptocurrency and a digital currency?”…..Excellent question. According to the discussions that I’ve seen on Bloomberg a digital currency is controlled by a big company or government….some big entity. A cryptocurrency on the other hand isn’t controlled by any big institution….it’s electronically mined by computer miners. Some of you may be wondering “Kinda like electronic coal miners??”…..Something like that. Now from there, once they’ve mined a Bitcoin or other cryptocurrency they can then sell it on one of the exchanges for whatever price the market currently has it marked at….And I’m just “guessing” when I say that. Any of you who has a deeper knowledge and expertise about the cryptocurrency mining process feel free to share your thoughts on that.

#5. I think institutions ARE TIRED OF PLAYING THE WAITING GAME. They’ve been doing all they can to just wait Bitcoin out, praying that it would drop down to $500 to $2,000 each, way down in the crypto abyss, but the bulls have steadily come back in and defended it every time it dropped down to $6,500……At the end of the day, for those who have bought Bitcoin or other cryptos and just HODL’d them??…..(Held On For Dear Life)…..Y’all simply refused to sell and you tired the institutions OUT……y’all wore them down.

Again just speculating but those are the things I believe that are fueling this current bullrun we’re on.