Why bitcoin is going up today

Why Is Bitcoin's Price Rising?

If you are using decentralized exchanges or keeping tokens or passing them through your wallet, it is often hard to keep track of it all. It is even easy to forget what you have and where. I am finding it indispensable. Meanwhile I am now back in the same position as I was before I sold the bitcoin, of hanging onto my positions by my cuticles with a wildly undiversified and unbalanced portfolio that morphs by the day into a gloriously profitable but unmanageable series of extremely volatile positions.

Here is one of my favorites that I hold and you can see why an old school equity guy, a value investor to boot, gets a nose bleed from this kind of price ascent:. Matic, previously called polygon, is not a one-off, it is just a good example.

To me, I believe these price levels are the upper faces of this mountainous cycle, but many still consider them the foothills. So what can help us know where we are? The all-seeing eye of Google can help. Here is a chart from Google Trends:.

Election uncertainty and comments from central banks have emboldened investors.

Google Trends highlights the spike in interest in dogecoin when wallstreetbets got involved. Bitcoin is the leader and definer of this cycle and its performance will direct the performance of all the other cryptos. Volatility is liable to shake me out soon, but it could be days or weeks, perhaps even months before it does — but a week is now a long time in crypto and that in itself is a signal which one can choose to pay attention to. The final indicator is transaction fees. These are now exorbitant.

When they start to fall it will be a signal that the FOMO is falling and for now the only way transaction fees are going is skywards. While I have to rise at a. This browser is no longer supported at MarketWatch. For the best MarketWatch. Economic Calendar. Retirement Planner. Sign Up Log In. Dow 1. Nasdaq 1.

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