Bitcoin continues to surge, what's driving it's price hike? Here's the answer

New South Wales and Victoria border check point of the Murray River

By now we're all witnessing Bitcoin climb at a rapid rate. Each Jump I keep thinking this must be the roof. If you're like me you've been watching the coin climb and fall. If not like me you would have bought lows sold high. In truth I have always been scared of Bitcoin. I haven't had the resources to invest and speculate due to my current 3D living circumstances.

But I've also noticed peaks when miners begin to sell, after they off load the price is low and continues to slowly climb. I thought this was another one of those runs and didn't take much notice.

This growth is different

By the end of December as Bitcoin continued to grow higher, stronger and faster than ever before I got curious. The amounts that Bitcoin are growing at are larger and faster than the current market. In short, there is a small pool of fish that circle bait (bitcoin) and they grab their feed from time to time.

something else occurred which made me look deeper

Then, all of a sudden dormant wallets that had been deemed "lost" became active. All of a sudden bitcoin circulation grew. It appeared these coins were being held. But for what?

Investment and security

See these coins were purchased early on in the game for a low cost. Well done to the people who had them and not sold when prices jumped early.

but they weren't people

That's right, people didn't own these wallets. See alot of people without self control would have sold and become millionaires. Except for investment bankers. See investment bankers look for the long run, they would have done their research and already having millions of others peoples money would have acted on behalf of their clients.

But that's only one snapshot, where am I going?

Who else or what is driving the marke? Where have these extra billions of dollars in investments come from and what does it have to do with Aussie boarder closures?

The first great lockdown of Australia wipes billions off the share market in an instant. The Victorian Government chipped in with business support funds and paid businesses who were failing. This softened the recession that Australia had for, a day. Sydney our international trade city (bigger than Melbourne) continued to remain opened.

However they have just been hit with a COVID outbreak at Christmas and New Years and did not implement any lockdowns or restrictions. In an attempt to not cause political unrest the Premier of Sydney continued the route. As a result cases have re-emerged in Melbourne and no doubt soon in other states.

Australia is about to get a massive 3rd wave of COVID.

This has driven investors out of Australian markets and straight into Bitcoin. Because Bitcoin through 2020 remained stable and continued to grow.

You can literally map Bitcoins price increase with Australia's boarder announcements. Everytime politicians talk of boarder closures price jumps. When confidence is restored and borders remain open, bitcoin drops.

As soon as Vic shut boarders to NSW and other states and territories are now saying the same, Bitcoin went on a Bullrun.

So hold onto your hats, my tip is that Bitcoin will hit 50,000. And, like always I won't be in it when I should be.

Aussies are inflating Bitcoin.

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