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The Bitcoin price moved 42% in the past 12 hours making it the 4th largest gain in history and the largest since May 10th, 2011.
The Cryptocurrency markets have been on fire with a $55 Billion cash injection making it one of the largest pumps in recent history.
3 reasons why the BTC price surged:
1 – President Xi Jinping supports blockchain in China.
2 – CME Bitcoin futures expired yesterday (4PM London time, last Friday of the month).
3 – Crypto Capital CEO arrested. Exchanges, such as Bitfinex, may get some of the seized 850 million back.
Anthony Pompliano tweeted, “BREAKING: Chinese President Xi Jinping just publicly supported China going all-in on blockchain technology across their economy.
This will be the space race of our generation. America has to embrace the technology, including Bitcoin, or we risk being left behind.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.