After months of dragging it's feet it feels like the bitcoin bull market rally might have just kicked in. This is mainly because bitcoin has now breached an ATH and is moving rather rapidly.

That constant back and forth trend since March really had a lot of people on edge but as of today it looks like BTC has not hit a all new ATH and it feels like it's moving at a rather rapid pace at the moment which could push it quickly to the estimated 100k by end of year many have been predicting for a while. Personally I feel if this is a limited rally as others have been in the past then we should see around $114,000 at the top out before we correct back down.

It's going to be interesting though. It honestly feels like the markets are currently betting on a Trump win and if he does win it's also speculated that inflation will come back at least at first with the policy changes he has said he would make but also a massive bull run for crypto as he's said the USA government would start to stock pile it to help pay off national debt which is just wildly out of control right now.

The other thing I want to highlight here is the sheer amount of volume that's behind this at the moment. You'll see this represented in the graph below as the gray lines to date. In just two days we went from a 15 billion dollar volume to a massive 64 billion showing us there's some good traction behind this move so far.

BRICS

Many people keep playing this down but if you really start to dig deep you can see that BRICS is currently putting forth a major push in order to adopt crypto and be the leader. While the USA keeps fumbling around and being aggressive towards it other countries are increasing their mining, adding the token to their coffers and putting in laws and regulations in place that are welcoming for crypto.

Many of these countries just pushed forward "bills" that are positive towards mining the digital asset. So really for the future of the USA it's actully in the best interest for Trump to win right now in terms of crypto assets.

Bitcoins Growth

The core idea here is that cryptos and in particular bitcoins growth over the next few years should be massive. This is because of a few things which have nothing to do with elections at all.

We are seeing more countries add it to their balance sheets. At just a 2% investment by all countries, inflation calculated in and the negative impact of the USD lately it's pretty clear that no matter who gets elected over the long term we should continue to see a higher and higher bitcoin growth rate.

Wallstreet

We all remember the introduction of ETFs right? But we also saw that most of that was already priced in and the core movement during that time were retail investors (those are your smaller investors who are not accredited investors).

Recently however we have seen blackrock make a rather large move on the bitcoin asset by accumulating another 1 billion dollars worth of it.

Posted Using InLeo Alpha