Today, November 17th the Bitcoin/USD market experienced a surge in Bitcoin price jumping from $16300 to $17800 in 24 hours
This marks an ATH flat price increase in 24 hours, setting a FOMO trend on the Bitcoin market
In recent days, the Cryptocurrency traders and investors heard a stream of green signals motivating them to purchase more Bitcoin. Some of their sources include banks, investors, analysts, mainstream media and even a US senator!
Maisie Williams, an actress that played Arya Stark in famous HBO series Game of Thrones, asked the Twitter community whether she should long Bitcoin or not.
The tweet gathered a lot of attention from Twitter crowd, including Multi-Billionaire Elon Musk and other famous figures
Elon Musk, who previously admitted he holds some Bitcoin and other crypto assets, have replied to this with a Witcher reference, making a hint on approving the idea of holding Bitcoin:
Billionaire Michael Novogratz have also replied to this Twitter conversation, stating that Bitcoin can easily hit $65000 in the near future, due to lack of supply and a ton of new buyers:
My personal analysis of supply and demand back in september shown that the Bitcoin should worth at least $20000 at the end of the year, when there’s traditionally high demand on Bitcoin due to retail hype.
The Retail Hype haven’t started yet, but the price is growing at unprecedented rates.
On my personal opinion one of the key factors at play is the victory of US President Elect Joe Biden, who promises various social programs and a minimal wage of $15 per hour.
Most economy experts agree that this move will weaken the dollar in a long term perspective, thus making Bitcoin a better solution for store of value rather than deflating Fiat currencies.
The world economy is at the brink of the crisis, and Bitcoin might be the answer for store of value for everyone.