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The FOMO effect takes Bitcoin above $8000

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The two-week rally in the largest digital currency continues and the price has also broke the $ 8,000 limit. This is the longest winning series since 2013, giving fresh market momentum since the last such mileage in 2017.

Indeed, for no clear reason, from the beginning of the week, the price is up by nearly 30%. This has helped the global market share of the digital world reach $ 250 billion. Tops like XRP, Ethereum, Dash advanced by about 4%.

There is all speculation about what has really driven the May rally, ranging from short squeeze to restoring confidence in digital assets, especially after recent hack attacks and scandals.

Source: Bloomberg Finance L.P.

Graphs: Used with permission of Bloomberg Finance L.P.


 Trader Martin Nikolov

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