Bitcoin Reflections: Massive Volume

Last week we were discussing the rough first quarter that Bitcoin has had. However with a single day this week the narrative appears to have changed. Some people may rejoicing a bit too early, however the volume spike this week is nothing to scoff at. The question one needs to ask is who was behind this massive spike and why now? This is a complicated question. The internet is littered with stories that range from the currency crisis in Iran to certain technical objectives that were hit. This reflections is going to give you an overview on multiple point of views.

Institutional Buying

One of arguments for the massive spike in price has been the bullish stance two of the largest financial funds have taken in cryptocurrency. The first one being the $26bn Soros Fund. George Soros who had previously taken a negative …