{"id":44016,"date":"2020-12-27T16:51:27","date_gmt":"2020-12-27T20:51:27","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=44016"},"modified":"2020-12-27T16:51:27","modified_gmt":"2020-12-27T20:51:27","slug":"beware-bitcoin-was-made-to-prevent-people-from-piling-into-gold-and-silver-filosofur","status":"publish","type":"post","link":"https:\/\/stateofthenation.co\/?p=44016","title":{"rendered":"BEWARE! Bitcoin &#8220;was made to prevent people from piling into gold and silver&#8221; &#8212; Filosofur"},"content":{"rendered":"<h1><strong>Ethereum Surges As Bitcoin Tops $28k<\/strong><\/h1>\n<p><!--more-->ZeroHedge.com<\/p>\n<p>Bitcoin\u00a0 has been stealing the spotlight in recent weeks as it has soared to record-er and record-er heights, but overnight saw a &#8216;regime-shift&#8217; as Bitcoin topped $28,500&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfm19E.jpg?itok=c2Z4Pr1S\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfm19E.jpg?itok=c2Z4Pr1S\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfm19E.jpg?itok=c2Z4Pr1S\" alt=\"\" width=\"500\" height=\"260\" data-entity-type=\"file\" data-entity-uuid=\"1be7a8b4-82d3-42cc-9b08-b765dcff2668\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>&#8230;before crashing over $2,000 lower, only to be bought back&#8230;<\/p>\n<div class=\"Advert_desktop__1J5vD Advert_tablet__3QEBr Advert_mobile__1rlLc Advert_align__N0_fw Advert_placement__1I4yb\"><\/div>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfm992D.jpg?itok=XH8xoKlY\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfm992D.jpg?itok=XH8xoKlY\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfm992D.jpg?itok=XH8xoKlY\" alt=\"\" width=\"500\" height=\"260\" data-entity-type=\"file\" data-entity-uuid=\"c719fe0e-0181-4415-8623-6f122758f721\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>Bitcoin&#8217;s surge had pushed it above its stock-to-flow model estimate&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2020-12-27_7-18-09.jpg?itok=3ofCP7Oo\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2020-12-27_7-18-09.jpg?itok=3ofCP7Oo\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2020-12-27_7-18-09.jpg?itok=3ofCP7Oo\" alt=\"\" width=\"500\" height=\"259\" data-entity-type=\"file\" data-entity-uuid=\"8206786f-0f30-42ff-9c24-3ffcccd3f862\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><a href=\"https:\/\/digitalik.net\/btc\/#\"><em>Source<\/em><\/a><\/p>\n<p>Some still have even bigger plans&#8230;<\/p>\n<div class=\"Advert_desktop__1J5vD Advert_align__N0_fw Advert_placement__1I4yb\"><\/div>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-2\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/index.html?dnt=false&amp;embedId=twitter-widget-2&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1342880075054661632&amp;lang=en&amp;origin=https%3A%2F%2Fwww.zerohedge.com%2Fcrypto%2Fethereum-surges-bitcoin-tops-28k-and-crashes&amp;siteScreenName=zerohedge&amp;theme=light&amp;widgetsVersion=ed20a2b%3A1601588405575&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1342880075054661632\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p>While Ethereum surge to a fresh cycle high&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfmE1FF.jpg?itok=lVVyQX39\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfmE1FF.jpg?itok=lVVyQX39\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfmE1FF.jpg?itok=lVVyQX39\" alt=\"\" width=\"500\" height=\"261\" data-entity-type=\"file\" data-entity-uuid=\"836b9de6-1fed-4553-8a1b-78a6cb826c27\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>Its highest since May 2018&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfm30F5.jpg?itok=qWS0e-vH\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfm30F5.jpg?itok=qWS0e-vH\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfm30F5.jpg?itok=qWS0e-vH\" alt=\"\" width=\"500\" height=\"261\" data-entity-type=\"file\" data-entity-uuid=\"1c7b2261-2021-4766-8a60-144b4ac0db61\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>This was a very notable reversal in the recent trend of Bitcoin outperformance&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfmA7E1.jpg?itok=r5ijN36X\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfmA7E1.jpg?itok=r5ijN36X\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfmA7E1.jpg?itok=r5ijN36X\" alt=\"\" width=\"500\" height=\"250\" data-entity-type=\"file\" data-entity-uuid=\"96b0a262-f778-417a-b48c-940c42bd9cae\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>As Ethereum seemed to find support again at 0.025 Bitcoins&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfmF0D2.jpg?itok=pFWJhwMZ\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfmF0D2.jpg?itok=pFWJhwMZ\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfmF0D2.jpg?itok=pFWJhwMZ\" alt=\"\" width=\"500\" height=\"251\" data-entity-type=\"file\" data-entity-uuid=\"294d2180-573c-4d8c-8398-4135313cafd8\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p>Bitcoin&#8217;s surge in price pushed it above the $500 billion market cap level for the first time&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2020-12-27_7-09-14.jpg?itok=AjTb2D0L\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2020-12-27_7-09-14.jpg?itok=AjTb2D0L\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2020-12-27_7-09-14.jpg?itok=AjTb2D0L\" alt=\"\" width=\"500\" height=\"157\" data-entity-type=\"file\" data-entity-uuid=\"8c80b1c8-b421-46c7-8020-fca40a6d9cde\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\"><em>Source: CoinMarketCap<\/em><\/a><\/p>\n<p>With institutional investors taking a break, talk turned to retail buyers fuelling the latest phase of the Bitcoin bull run.<\/p>\n<blockquote><p><em><strong>\u201cThe bull cycle of bull cycles has started, as more and more players are starting to adopt towards Bitcoin and cryptocurrencies,\u201d<\/strong><\/em>\u00a0Cointelegraph Markets analyst\u00a0<a href=\"https:\/\/cointelegraph.com\/authors\/michael-van-de-poppe\">Micha\u00ebl van de Poppe<\/a>\u00a0summarized to\u00a0<a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1343157398219980800\">Twitter followers<\/a>.<\/p><\/blockquote>\n<p>But, judging by the GoogleTrends data, this remains an institutional story, very different from 2017&#8230;<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-3\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/index.html?dnt=false&amp;embedId=twitter-widget-3&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1343138010687098880&amp;lang=en&amp;origin=https%3A%2F%2Fwww.zerohedge.com%2Fcrypto%2Fethereum-surges-bitcoin-tops-28k-and-crashes&amp;siteScreenName=zerohedge&amp;theme=light&amp;widgetsVersion=ed20a2b%3A1601588405575&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1343138010687098880\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p>Finally, this looks set to be the biggest gap open in Bitcoin futures markets ever as spot prices have surged an incredible $4000 since Bitcoin Futures closed on Thursday&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/bfm83B4.jpg?itok=MuTEP2-y\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/bfm83B4.jpg?itok=MuTEP2-y\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/bfm83B4.jpg?itok=MuTEP2-y\" alt=\"\" width=\"500\" height=\"259\" data-entity-type=\"file\" data-entity-uuid=\"7592ff80-56d2-4541-85b5-e70b701e885e\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p><em>Source: Bloomberg<\/em><\/p>\n<p><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-headed-for-christmas-volatility-as-100k-btc-options-expire\">$2.3 billion worth of Bitcoin futures expired on Christmas day<\/a>, which historically has led to choppy markets, but we suspect some serious margin calls are still on their way.<\/p>\n<p>With the end of the year looming, some fund managers may also be buying BTC so they can\u00a0<a href=\"https:\/\/twitter.com\/MikeBucella\/status\/1342885046341021697?s=20\">brag<\/a>\u00a0next year about being smart enough to get in in 2020 while neglecting to say at which price they had done so.<\/p>\n<p>___<br \/>\n<a href=\"https:\/\/www.zerohedge.com\/crypto\/ethereum-surges-bitcoin-tops-28k-and-crashes\">https:\/\/www.zerohedge.com\/crypto\/ethereum-surges-bitcoin-tops-28k-and-crashes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Surges As Bitcoin Tops $28k<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-44016","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/44016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44016"}],"version-history":[{"count":0,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/44016\/revisions"}],"wp:attachment":[{"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}