BREAKDOWN: How Real Is Bitcoin’s Rally? 8 Interpretations of Bitcoin's Massive Surge

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

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Published on: Jul 28, 2020

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

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.

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

In this episode, NLW explains eight of those interpretations, including:

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.