In the cryptocurrency realm, folks who ardently refuse to sell their Bitcoin are referred to as "HODLers" (as in, "holding on for dear life").
But even the most bullish among them would have to concede it's been a horror-fest-worthy 15 months for that bellwether of the alluring-but-controversial cryptocurrency market.
Or at least, it was until last Tuesday…
The crypto that "started it all" has enjoyed a convincing, sustained rally – a tad less than 28% – in the week since.
Ethereum (ETH) and XRP, the No. 2 and No. 3 crypto coins by market cap, have also notched big weekly gains of around 27% and 16%, respectively.
The surge triggered a massive media response, and two questions dominated the headlines:
- Just what, exactly, ignited this run-up?
- And is it sustainable?
Now, I'll be the first to concede that I'm not a cryptocurrency expert.
Fortunately, I don't have to be.
One of my colleagues here at Money Map Press is viewed as one of the top crypto journalists and analysts in the business today.
In 2019, that's really saying something.
He's the guy a lot of our own experts go to for intelligence on the "nuances" of Bitcoin and its brethren. And his work and social media posts are respected and widely followed in the crypto community.
So I turned to him to make sense of it all.
I'm really excited to share what he had to say…
About the Author
Before he moved into the investment-research business in 2005, William (Bill) Patalon III spent 22 years as an award-winning financial reporter, columnist, and editor. Today he is the Executive Editor and Senior Research Analyst for Money Morning at Money Map Press. With his latest project, Private Briefing, Bill takes you "behind the scenes" of his established investment news website for a closer look at the action. Members get all the expert analysis and exclusive scoops he can't publish... and some of the most valuable picks that turn up in Bill's closed-door sessions with editors and experts.