No doubt there are many theories about the Bitcoin rally, just concluded.
The arrest of Jullian Assange happened yesterday, after the rally was pretty much finished.
The market cap of Bitcoin is almost $90 Billion USD. How many Million$ would it take to move the market the way it moved a few days ago?
Ultimately, a rally happens when people around the world step up and buy. It is simply "supply and demand" that moves markets. I suggest that the Brexit deadline of today "inspired" many to buy crypto because the fear of what would happen to the Euro, short term.
Unlike the stock market, there are no "market makers", who are obligated to maintain an "orderly market". There is no short selling that can cap the upside. No practical way to directly manipulate the market, up or down. When she runs, she runs hard and fast.
The unrestricted volatility and lack of manipulation is why we like the crypto market so much, and why the stock market is slowly dying before our eyes.
Just my opinion...
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