Bitcoin Touches $11k & Nearly Triples Since January 2019!

Bitcoin was at or above $11,000 yesterday and earlier today. Since January 2019, Bitcoin has almost tripled again already after having an enormous correction with multiple crashes in 2018. What a rally! The chart has basically gone parabolic (again) recently!

Props to Dr. Marc Faber of the Gloom Boom Doom Report https://www.gloomboomdoom.com/ for recommending Bitcoin as a speculation for his paid newsletter subscribers in January 2019.

In this short video, Jason talks about the Bitcoin chart, and potentially the global macro factors, especially China, that may be driving the Bitcoin price a lot higher. Jason talks about how many Chinese may be worried about a major RMB devaluation coming up soon and how some Chinese with large amounts of RMB may be using Bitcoin to get around China’s strict capital controls.

1) Bitcoin Is All About Chinese Capital Flight https://www.forbes.com/sites/bryanrich/2019/05/14/bitcoin-is-all-about-chinese-capital-flight
2) China Has Lots of Policy Room If Trade War Worsens, PBOC Chief Says https://www.bloomberg.com/news/articles/2019-06-07/china-has-lots-of-policy-room-if-trade-war-worsens-yi-gang-says

Jason also talks about the Bitcoin halving including what is the Bitcoin Halving and when will it happen again next?
1) Bitcoin Halving – A Beginner’s Guide https://99bitcoins.com/bitcoin-mining/halving/#next-halving
2) https://www.bitcoinclock.com/
3) https://bitcoinblockhalf.com/

Jason does not think that the next Bitcoin halving is being priced into Bitcoin prices yet as it’s not projected until around May 2023. So that’s almost a year away and far too soon to be priced in yet in Jason’s opinion.

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Bitcoin Touches $11k & Nearly Triples Since January 2019!

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Kane Dane