Regarding an article published 1st August 2020 titled “Bitcoin Breaks $11,700 for 1st Time in Over a Year After 2nd Highest Monthly Close Ever” by Crypto Globe. Click Here for the full article.
Bitcoin just closed out the month at its second highest ever level USD 11,337. The highest close out month being December 2017 at USD 13,850.
In December 2017 it only took two weeks for Bitcoin to get from the current price levels to its all time high of USD 19,870. Actually, there are only now 62 days in all of history where you would have to pay more to buy Bitcoin.
The fear of missing out is what drove retail investors to chase the price aggressively to the all time high in December 2017. The bust came swiftly because after a loss of fear comes a loss of confidence when there is little to back up why the price moved up in the first place.
In 2020 it is professional money and educated money that is steadily moving the price upwards. If you are not bullish on Bitcoin in an environment where the government will print all the money it takes to fix whatever problem people think they have then you can only have an agenda to destroy whatever you think Bitcoin is.