Over the past week, bitcoin has seen its price spike over 12.5% to around the $11,500 level clearly outshining other major cryptos. Is this a coincidence or is there something more important going on. If this action had occurred last summer, the explanation would have been that bitcoin was just part of the unquenchable thirst of the public to own cryptocurrency.
But these days, we believe that lots of the purely speculative phase is behind and that fundamentals will play a more important role moving forward. The recent bitcoin action provides some support for this theory.
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https://samcrypto.com/bitcoin-whats-behind-major-price-spike/
