How Real Is Bitcoin’s Rally? 8 Interpretations of Bitcoin's Massive Surge

As bitcoin retraces slightly after reaching a new 2020 high about $11,000, NLW explores what’s driving the BTC rally and how likely it is to continue.

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This episode is sponsored by Bitstamp and Crypto.com.

It was a beautiful Monday.

Bitcoin crashed through $10,000 and got all the way up to a new yearly high of about $11,000 before retracing slightly.

See also: Bitcoin Futures Volume Surges 186% as Price Hits $11K

As with any dramatic price action, people were quick to start giving their interpretations of why it happened.

Eight ways to understand bitcoin's massive surge

• Banks stacking due to changes in custody rules
• Money printer go brrr
• Stock to flow model
• Robinhood traders piling in
• DeFi gain recycling
• Buyers exceeding sellers
• “Perfect storm”
• Dollar crash, negative real interest rates and the search for a new reserve currency

Ultimately, NLW argues that it is this last factor driving up not only bitcoin but gold and silver.

See also: No, the Twitter Hack Wasn’t About Bitcoin

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.