For those who were watching their bitcoin and cryptocurrency portfolios drop significantly yesterday probably wondered what caused such a downward spiral then sudden rise of nearly $8,000 in less than a 24 hour time period.
This is the reason why I believe caused it to come out of the ashes of misery yesterday:
Meta Advised to Bet on Bitcoin for Inflation Hedge - a proposal has been presented to Meta’s board. It suggests the company allocate a portion of its $72 billion in liquid assets into Bitcoin.
Afterall they have not invested or accepted top invest in bitcoin, so i want to believe this is just a mere coincidence or probably a decision to be later taken by them, bitcoin recently have been this volatile and we just experience the fake-out that made it go below $90,000 this time to $89,000 and then surge back, this shows a very high in support level and we may not really have more of bear than we should expect for the bull anytime from now, just as we all know, few days to the election day and there could be anything more impressive to come in later regarding the pump for all time high of the month.