As bitcoin retraces slightly after reaching a new 2020 high about $11,000, NLW explores what’s driving the BTC rally and how likely it is to continue.

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

This episode is sponsored by Bitstamp and Crypto.com.

It was a beautiful Monday. 

Bitcoin crashed through $10,000 and got all the way up to a new yearly high of about $11,000 before retracing slightly.

See also: Bitcoin Futures Volume Surges 186% as Price Hits $11K

As with any dramatic price action, people were quick to start giving their interpretations of why it happened. 

Eight ways to understand bitcoin's massive surge

  • Banks stacking due to changes in custody rules
  • Money printer go brrr
  • Stock to flow model
  • Robinhood traders piling in
  • DeFi gain recycling 
  • Buyers exceeding sellers
  • “Perfect storm”
  • Dollar crash, negative real interest rates and the search for a new reserve currency

Ultimately, NLW argues that it is this last factor driving up not only bitcoin but gold and silver.

See also: No, the Twitter Hack Wasn’t About Bitcoin

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

Disclosure
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.