Bitcoin surged a lot in the past couple of months to a all time high.
But the gold standard of cryptocurrency breaking its all time high again and again. Thanks to positive news around the world.
Countries Including India, China, Russia, Japan all are reconsidering the cryptocurrencies to be included in to their system.
Investors are still bullish on the currency and expect a 4000$ mark in the near future.
The rally seems to attract a larger crowd towards the cryptocurrency era and that is a good thing. But the rally might itself block out from the people who wish to embrace it. The sustainability of the price surge is also debated due to some negative news including the bitcoin unlimited, segwit issues.
Despite all the noise it does tell us a scenario we are currently heading right now.
The world is uncertain about the growth. Growing geopolitical conflicts around the world and growing debt causes panic in people.
But despite all the negative buzz around the monetary system, stock markets around the world are rallying without a solid reason. And that's terrifying people a lot. They fear to protect the wealth and running out of options as the precious metals are also expensive. Now they are having a perfect asset to invest in terms of cryptos. We are experiencing such pouring of money into cryptos available in markets.
Whether those money will stay in the crypto system forever is questionable. But lets wait and watch how the scenario is panning out. Lets enjoy the rally for now