Quote from: Haunebu on September 22, 2019, 12:33:58 PM

I don't think that was only because of Bakkt since there were multiple factors involved among which the Facebook crypto(Libra) was the primary motivator.

Libra has nothing to do with Bitcoin, it is just an idea on paper with a high chance of failing. Yet complete ignorance of the good part of the crypto community regarding Libra perhaps influenced the increased demand at one point, but the price is starting to go up in moment someone (Bakkt) is start to pump money in Bitcoin.

Just imagine that today someone starts buying thousands BTC, the price would instantly go up, and we know that people invest in crypto mostly in times when the price is going up. The reason is simple, FOMO short-term profit in times when Bitcoin realizes a significant price increase in a short period of time.

In a time of stability which we have right now, supply and demand are almost equal - it just shows that cheap coins are not too interesting for most investors.