Bitcoin is Back! Like a Box of Chocolates, You Never Know What You're Gonna Get!

Life is Like a Bitcoin Chart...

Mama always said life is like a box of chocolates you never know what you're gonna get. Well Bitcoin's been kinda like that lately. One minute it's up next minute it's down. But lately it's been runnin'! Seems like President Trump bless his heart softened his tone on China tariffs and things started lookin' up. Bitcoin went up 2.4% hitting $93,660! That's higher than Lieutenant Dan after a Saturday night I tell you what.

Run Bitcoin Run!

It's been climbin' like Jenny on a mission recovering more than half its losses since Inauguration Day. Some fella named Joel Kruger said it's because folks are seein' it as a good way to diversify and protect against uncertainty. I don't know about all that fancy talk but I do know when somethin's runnin' you gotta run with it!

ETFs and Shrimp Boats

Now I don't know much about fancy exchange traded funds but apparently they saw a big spike in activity. Almost a billion dollars worth! That's like a whole fleet of shrimp boats comin' in at once. Seems like people are thinkin' Bitcoin could be a good hedge like umbrellas on a rainy day.

Short Sellers Surrender

And get this – some folks called 'short sellers' had to buy Bitcoin back which pushed the price even higher. That's like Bubba having to give back all the shrimp he caught. Over $300 million in liquidations! Sometimes you just gotta go with the flow like a leaf on the river.

Spot Demand and Shrimp Gumbo

This Julio Moreno fella he says the demand for Bitcoin has been slowin' down but not as much lately. It's kinda like when Bubba was teachin' me about all the different ways to cook shrimp – there are a lot of factors and it takes time to get it just right for gumbo.

Keep on Runnin'?

But Mr. Moreno also said that it has a ways to go before it gets back to the levels where it can sustain its rally and see new all time highs. So just like when I was runnin' across America gotta keep puttin' one foot in front of the other. Mama always said "You have to do the best with what God gave you." So let's see where this Bitcoin runnin' takes us!