According to the Financial Times, US President Trump is expected to sign an executive order that will allow Retirements (e.g 401K plans) to invest in GOLD, CRYPTO (Digital Assets) and PRIVATE EQUITY.
These Funds in aggregate represent ~9T USD, most of which is currently invested in Equities/Stock, Index and Bond Mutual Funds.
That would explain the suddenness of the price explosion. It is a stronger catalyst than expectative lower interest rates. BlackRockā¢ (pro crypto) would be able to use funds from their retirement plans for more heavy ventures in crypto.
$BTC and $ETH might have reacted in anticipation to this kind of news (undoubtedly foreknowledge), and the rest tagged along.
Just a fraction of that capital would dwarf this rally if injected in the Cryptocurrency Market Capitalization. However, it is possible the future influx is being discounted by buyers rushing in before that policy is enacted, by traders/investors informed before the public.
Regardless, a treader without insider information can only react and protect its assets for the unforseeable, as the market is not totally unpredictable but not predictable enough to be confident to anticipate the actual outcome.
One must never forget there is a difference between probability and outcome. One must prepare for probable and seemingly impossible scenarios to some extent as the future is uncertain.
SKEPTICAL SIDE:
What if the motion is cancelled by other administrative body? DOOM.
As always, the alternative scenario can be a price correction, if speculators lured to buy on unmet expectations have to sell after their hyphotheses were invalidated or the market did not move their way...
