To be honest, the fact that $BTC managed to reach $111,900, I think Trump and Liangxi™ contributed the most. These two lunatics, one inside and one outside, stirred up a storm!
It's possible that one day Trump, having made enough money, could turn around and criticize Bitcoin. And if Liangxi goes bankrupt and deletes his account, there will still be someone to take over, believe it or not.
First, let's talk about Wang, who, in order to campaign, is crazy about riding the hype of the crypto circle, saying, "Biden is suppressing cryptocurrency, if I get in office, you can play freely," and even hints that he might hold coins himself, making those Wall Street institutions think that policies are really going to loosen up, so they quickly pour money in to bet, after all, when he was president, Bitcoin surged from over a thousand to twenty thousand. The old investors remember this mysticism. Plus, he is always engaging in trade wars and criticizing the Federal Reserve; when the international situation gets chaotic, many people treat Bitcoin as a safe-haven asset, hedging risks like gold, and naturally, the price is pushed up. Coupled with launching coins to exploit investors, issuing $WIFI, $USD1, binding various coins, $B, etc., having banquets and secret meetings! Really™ not idle, constantly issuing coins, constantly enjoying, constantly exploiting investors and making money!
Now, let's talk about Liangxi. This guy is simply the wild spokesperson of the crypto circle, shouting "Fully invested 🈳" and "Gamble to get rich" every day on Weibo and Twitter. Although he is criticized as a gambler, he genuinely dares to show his gains and can lead the trend, especially before this wave of increases when he was shouting out crazy buy signals, attracting a bunch of new investors to follow along, making the market heat reach its peak. What’s even more incredible is his grassroots success story, losing it all and then turning back, which fits the myth of getting rich in the crypto world so well that many people see him as a "crypto koi." Even those who don't believe in technical analysis can't help but want to ride on his luck. How many people are following this lunatic! Losing everything, not even the pants! With hundreds of millions of funds being gambled, if it doesn't explode, it's your fault! These two, one is setting policy expectations in the halls of power, and the other is stirring retail investors' emotions in the market, igniting the flames from both ends. Bitcoin is going crazy pulling up!
Plus, with the Federal Reserve's interest rate cut expectations and ETF fund inflows as these fundamentals, it's hard for Bitcoin not to soar. But to be fair, it’s also possible that one day Trump could turn around and criticize Bitcoin, and if Liangxi goes bankrupt and deletes his account, someone will still take over. In the crypto world, while it's lively, real money still has to be played with caution.
Image from loveevertrader
