Over the past week, the global flagship cryptocurrency, Bitcoin, has added 13.25% as it surged from $42,970 to the $48,663 level. Within the last 24 hours, the $BTC surge has constituted 2%. A slight decline of 1.09% followed, taking Bitcoin to the $48,100 level, where it is exchanging hands at the time of this writing.
There are several major reasons for Bitcoin breaking above the $48,000 mark. Bitcoin ETF issuers continues to acquire $BTC, while the selling pressure brought by Grayscale seems to be waning now. Bitcoin ETF providers keep reporting massive $BTC inflows.
The second reason is that the Bitcoin Layer-2 narrative is getting stronger as many within the cryptocurrency space begin to realize that $BTC may be something bigger than simply a store of value.
The third factor that contributed to Bitcoin’s advance first above $45,000 and now beyond $48,000 as well, is the inflow of funds from venture capitalists into Bitcoin-based developing projects. Apps that began to raise money about half a year ago are now seeing massive influxes of cash and have even become overflown with capital.
Robert Kiyosaki endorses Bitcoin during Super Bowl
Financial guru and the author of the “Rich Dad Poor Dad” book Robert Kiyosaki, who is also a great Bitcoin advocate, tweeted over the weekend that he expects “the American Empire” to crash soon, likening it to the Roman Empire.
Kiyosaki again pointed out that the US deep in the fast-growing national debt, which constitutes approximately $34 trillion now. He likened the Super Bowl to “gladiators entertaining Romans”, while the Roman economy was decaying quickly. He urged his followers to bet on Bitcoin and not on the Super Bowl.
u.today
