When Donald Trump took office the stock market made a huge climb,The Dow climbed 156 points to 20,069 and was joined in record territory by the S&P 500 and Nasdaq.I promise I am not going to get political on you here but it was a huge event.So last Friday we had the most bearish of rates since 2014,before rates ran back to 2%.
But the Chart of the week has to be Bitcoin hands down.
The price of Bitcoin is up 30% since it opened on Friday,Well actually it has doubled in a month.
Where is this coming from?My 100% guess is going to be China.Chinese stocks are down right now close to 8% and that is from the past month.Along with German stocks and US stocks and everyone knows Gold is flat.So with all that being said all of China's money is going into Bitcoin and of course more stocks but from what i understand nothing is going into Gold.Are you surprised I am not Gold is great and all but it looks like we have a new boss in town.
As of 5/25/17 here is a list of top Cryptocurrency Coins.
Thanks