Stocks

**walrus** · 11-17-2020 02:36 PM

Well bitcoin broke 17,000 usd. Odd thing is I don’t see a lot of fomo at the moment. It’s not all over the news, internet searches aren’t particularly crazy about bitcoin at the minute. Leads me to believe it’s big money moving the price. I know PayPal announced some bitcoin involvement along with square but that is kind of old news. Basically I was digging around a little trying to see what is behind the sudden spike. A lot of people got burnt on btc when it hit twenty thousand a while back. Bottom line I have no idea. It’s not like a stock where you can read a about, let’s say Apple adding a new service or Berkshire Hathaway buying 1 billion shares of something. I did read JP Morgan put a 300,000 usd price target on btc but if you dig into that it wasn’t J.P. Morgan it was some dude who works for J.P. Morgan. Probably just bought a bunch and wanted to pump up the price.