In the last few days, the value of Bitcoin exploded. It was $5300 on May 1st, and while I’m writing this, it has broken $8000 and still rising. What caused this spectacular bull run?

It is quite reasonable to search for the reason in the significant economic events that has happened just before the start of the bull run. The obvious reason could be a collapse of a trade deal between USA and China, which has been expected after Trump raised some tariffs from 10% to 25%. Of course, China retaliated, and sent stocks downhill…

At the same time, there were news about “the great Binance hack”, where 7000 BTC was alegedly stolen from the crypto exchange Binance… Bitcoin didn’t even make a hiccup. It is obvious now that bitcoin has hit the bottom of the hyperwave at $3180 on December 15, 2018. That fantastic 2017 was a perfect “advertising year”, when institutional investors started to jump the wagon. As a proven asset, bitcoin today represents best security solution imaginable.

That news, and the news that Fidelity is ready to launch bitcoin trading desk, obviously moved bitcoin far stronger than anyone could expected. It is hard to believe that bull run will last long, but it is clear that we are at the beginning of another speculative rise and that bear market is over.

Unfortunately, that is probably a sign of a severe economic crisis coming… Keep your keys crypto hodlers, and have a good evening.

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