Really?

That's what caused Bitcoin to have the 4th largest daily spike of all time? Seriously these speculators need to get real.

Said it before, say it again.

News does not affect the underlying value of Bitcoin.
News can only push the market in the direction it's supposed to go.

So why did bitcoin spike so hard?

Because the market panic-sold into a bull market. I was honestly really confused but pleasantly surprised that Bitcoin crashed to $7500 right at the late October cutoff. For me, it was an obvious all-in indicator, and that's exactly what I did.

Why else?

Winter + economic-crisis + halving + bottomed-out.

There are so many fundamentals in front of us, and everyone is running around thinking President XI Jinping just saved the day? How many times have powerful leaders come forward in support of Bitcoin and literally nothing happened to the price action? The events being claimed to affect the price of the market happen over and over and over again, yet they are only used as an explanation for price action when it suits the author to do so.

Remember when Bitcoin was $3200-$4000 and not a single piece of news was budging it in either direction? Remember all the people who questioned this happenstance?

Correct, nobody did.

The market lives in a fantasy land and never holds itself accountable. We can always count on the market to be dumb and greedy at all times. These fantasies are what create the bubbles and busts in the first place.

Conclusion

The reason the market spiked is due to people buying Bitcoin. People bought Bitcoin because it was worth buying, and it will continue to be worth buying so long as the legacy economy remains entrenched in absolute corruption.
_{(aka until it dies a most heinous death)}

Stop listening to the rabble.

There doesn't need to be an explanation for every price movement.
Nothing anyone says is going to change the fundamental value of Bitcoin.
There is no argument to be made to the contrary.
End of Story.

News As A Catalyst: Stop Forcing The Answer

Apparently Bitcoin's spike yesterday was the biggest one since 2011, and everyone wants to know why.