Why Is Bitcoin Pumping? 

I have two possible reasons for the rise in the price of Bitcoin which I will share in this post but I believe in summary, there has been a massive accumulation of Bitcoin due to some of the reasons I will share, and the fact that Bitcoin is worthy to be a store of value. 

1. FOMO Due To Increase In The Bitcoin Dominance. 

According to recent statistics, there is a massive rise in Bitcoin Dominance. Out of a 1.1 trillion market capitalization of the crypto world, BTC now has a market capitalization above 519 trillion. This is more than 50% of the crypto market cap. 

2. BlackRock's Bitcoin ETF Proposal. 

Institutions & investors are currently leveraging the low price of Bitcoin to buy into while waiting for the approval of the proposal. Approval of this proposal will skyrocket the price of BTC.