Do you have a better explanation? I don't see any news or rumor that could explain it.
I just posted the explanation Stolfinator. When something like 70% of coins have been mined, price has already hit the bottom as evidenced from the last year, and the upside potential is listed below, we haven't witnessed anything close to a bubble yet:
Incoming $163,000,000,000 market cap and $7700 coinshttps://bitcointalk.org/index.php?topic=1235466.0Well, six months ago 68% of the coins were already mined. Why wasn't the price ~$340 back then?
Didn't investor know then that, within six months, 70% of the coins would be mined?
Whatever the cause for the rally, one thing you should keep in mind: every penny of profit that a bitcoin investor makes can only come from the pocket of another bitcoin investor...
can you educate us on the velocity of money and how fast ppl can get there hands out of the pockets and onto the keyboard before the price rises...supply and demand! I have loved your "neutral" stand over the years and I'm a fan!