I'm curious about the recent pump in Bitcoin's price. What are your thoughts on the factors that contributed to this surge? Do you believe it was primarily driven by positive news, investor speculation, increased mainstream awareness, or a combination of these factors? How do you think this pump will impact the overall cryptocurrency market? Looking forward to hearing your insights and opinions!"
What caused bitcoin to stay below 20k for so long is more interesting to me. If we consider all possibilities, BlackRock and other companies knew they were going to launch bitcoin oriented services long before they announced it. They knew it in 2022, I'm sure of it. In that case an extended bear market was good for them and allowed them to buy cheap.
I think that all people who were selling at 17 18 and 19k were selling to BlackRock and its affiliates and insiders. That's why when bitcoin begun to recover on its own, reaching 25k, these companies decided to announce their moves all at once, because they knew we're starting a bullish trend, a reversal, and waiting for lower lows doesn't make sense anymore.
Of course they knew about it and they are going to be making a good amount of profit when the time comes but it's also a bit of a trouble for companies when they do something they think could make them a profit later on, but that later on doesn't come quick enough. A lot of companies went under because of this, they believed that the price will be better but that better price never came, it kept on going down and resulted with a lost amount of profit.
This isn't even just companies, even nations are like that nowadays, look at El Salvador buying bitcoin, they bought it way too high and they tried to recover from that as well. So you could be as rich as you want, but if the investment doesn't pan out for multiple years, it becomes a trouble.