Despite record bubble heights, hoards of futures shorts ready to pounce, funding ISIS, and being a "highly speculative asset," it appears the world's citizens are willing to place some assets in the safety of a decentralized, non-fiat asset.
Bitcoin is surging once again as Asia opens, to new record highs at $17,661.
The catalysts for the most recent surge is unclear though today saw a Senior VP at eBay suggest they are "seriously considering" Bitcoin integration and Israeli PM Netanyahu suggest Bitcoin could replace banks -
“Is the fate of banks that they will eventually disappear? Yes. The answer is yes. Does it need to happen tomorrow? And do we need to do it through Bitcoin? That’s a question mark.”
Ethereum appears to be taking the brunt of the rotation.
Interestingly it appears the relative price level of 22 ETH per BTC is some kind of support/resistance for now...
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