Bitcoin is performing very much how it was intended to.

It is catching a bid during times of uncertainty.

As fiat currency becomes destabilized, bitcoin becomes more and more attractive.

People are starting to realize they would rather have their money controlled by math instead of by governments.

"The most interesting scenario is that larger percentages of the human population begin electing to store their wealth in software-based currencies. Quite literally, they decide to trust the governance of an algorithm over the governance of humans."

(Source: https://twitter.com/APompliano/status/1158339287672397824)

What's the catalyst?

Trade war.

China devalued their currency by roughly 10% this morning, dropping the Yuan to levels not seen in over a decade as a response to Trump's increased tariffs.

Which signaled that China isn't interested in working out a trade deal any time soon.

People don't want to get in the middle of that.

Instead, they are flocking to a border-less currency that isn't controlled by any single entity.

For those reasons, bitcoin looks more attractive than ever.

In my opinion, based on the current landscape, there is a decent chance we break the year to date highs around $14k at some point within the next two weeks.

Stay informed my friends.

Image Source:

https://finance.yahoo.com/news/thawing-us-china-trade-war-210017360.html

-Doc