 What is going on ladies and gentlemen happy Tuesday today is December 29th two more days before the end of the year. In today's video we're talking about five different reasons for Bitcoin's current bull run and why we continue to go up. We're going to talk about how the fall of the dollar continues to push the price of Bitcoin up as well as the stimulus checks keeps funding Bitcoin's bull run. We're going to talk about the entry of the institutional investors into the Bitcoin market and why it is only going to keep pushing the Bitcoin price up during this bull run. We're going to talk about how skeptics have been turned into believers this year. We're going to talk about how grayscale's 15 billion dollars plus keeps pushing the price up. We're going to talk about 2020's halving. We're talking about how the beginning of retail investors are starting to fumble in just now and last but not least of course defy markets. You guys do not want to miss this video. Guys make sure that you like and subscribe guys hit that notification bell and drop a comment. Let us know if you've been in this bull run and if you guys are interested in using the exchange that we use. We use buybit and in the description we have a link where you guys can sign up through that and you'll be able to get some rewards on your initial deposit up to around a hundred dollars or more. So without further ado let's jump right in guys. So Bitcoin's run beyond the previous all-time highs level has turned profits for almost everyone who's invested in the cryptocurrency to date. Also Bitcoin has appreciated by more than 500% this year since the March lows. It is currently among the top investable assets across all financial markets. But what exactly fueled Bitcoin's rally past the 2017 top? What's the force behind Bitcoin's parabolic spurt this year? That's what we're covering today. Five reasons for Bitcoin's bull run. The death of the dollar. The daily year to date chart of the US dollar currency index confirms the greenbacks road to perdition and it reaffirms the fact that it's time as the world's reserve currency is about to be over. Rashir Sharma Morgan Stanley Investment Management's Chief Global Strategist explained how the US has enjoyed the world reserve currency status for a hundred years now. It also spoke about how the federal government abused the greenbacks financial market dominion and how that has opened the doors for Bitcoin to become the new global reserve currency. So the US has just continued to print and print and print. So how has that exactly played out for the American fiat currency? Massive US COVID-19 stimulus deals have put pressure on the US dollar. Ever since the first stimulus checks started getting deposited, the greenback has only trended downwards. The dollar currency index plunged to eventually hit its 2018 low last month. In turn, all this has really done for Bitcoin is boost its bullish case, and this can be clearly estimated by the explosive growth registered by Bitcoin after it took off in April. Investors flocked to park their wealth in the top cryptocurrency to hedge against the greenback's continuous freefall. Finally, talks of further fiat injection totally turned the tides in Bitcoin's favor, allowing it to chart new highs above the 20,000 level. I believe that the latest $900 billion stimulus deal agreed between US lawmakers might land a final blow to the greenback and help Bitcoin rally up higher. Reason number two, the entry of institutions in the Bitcoin market. What publicly traded multinational organization MicroStrategy started is slowly rubbing off on other corporations as well. The Michael Saylor-led company shocked the world with the conversion of $425 million worth of cash reserves into Bitcoin. Believe it or not, Saylor initially was a Bitcoin skeptic and had said in 2013 that the flagship cryptocurrencies days were numbered. Today, he's one of the biggest proponents and his company didn't just stop at $425 million. This month, MicroStrategy purchased an additional $700 million worth of Bitcoin. Alongside with MicroStrategy, Twitter boss Jack Dorsey's payment company Square bought $50 million worth of Bitcoin earlier in October this year. Mass Mutual, an insurance company based in Boston, Massachusetts, hedge fund giants One River Asset Management, and Ruffer Investment also didn't stay behind. Guggenheim partners bought Bitcoin when the asset's price was trending at $10,000. The firm's CIO, Scott Minnard, even went ahead and said that Bitcoin's price should be at least worth $400,000. Also, Anthony Scaramucci's billion-dollar hedge fund Skybridge Capital filled a foreign D with the US SEC for its first Bitcoin fund and has already put $25 million in it. Institutions are the primitive force behind Bitcoin's incredible rally this year, and massive fund inflows from these deep-pocketed firms and organization is what's keeping this rally intact. The continuation of money being printed by central banks around the world has resulted in notable financial experts and billionaire Wall Street investors projecting a grim inflation-laced outlook for the global economy. What has also happened is that these folks who were previously against Bitcoin have now warmed up to the idea of their cryptocurrency being an actual store of value. The latest and most notable of those who converted is Ray DeLeo. The billionaire hedge fund manager and founder of Bridgewater Associates recently softened his stance on Bitcoin. He went from dismissing Bitcoin as a currency and store value to admitting that the crypto asset could be an alternative to gold. Similarly, the ex-CEO of Prudential Financial and the chairman of Sanders Morris Harris George Ball, who was well known for criticizing Bitcoin, became another one who got converted earlier this year. He said that the top cryptocurrency is an amazing long-term investment bet. He said that traders and investors should realign their portfolios substantially and allocate sections of their portfolios to Bitcoin because it is something that can't be undermined by the government and it won't become worthless. This soft spot for Bitcoin coming from important folks who initially had a hard on is driving investment sentiment consequently leading people and companies to buy more Bitcoin, which in turn is a significant reason for the blast past $20,000. Reason number three, halving 2020 and grayscale. This year, Bitcoin experienced its third block reward halving in which Bitcoin rewards for miners were slashed in half owing to the original design of the cryptocurrencies protocol. Bitcoin miners will now be able to make only 6.25 Bitcoin for solving a block. And since the market is hot with demand, the halving that happened in May this year further added fuel to Bitcoin's rallying price. Also, what has added to Bitcoin's limited supply is the sheer buying activity from crypto investment fund grayscale. The Barry Silver led institutional investor focused digital asset fund has been consistently growing its assets under management base. If the latest numbers are anything to go by, grayscale currently has over $15 billion worth of cryptocurrency assets under management. Most of the firm's holdings are in Bitcoin. This has greatly reduced the probability of potential investors to pick up cheap Bitcoin in the market as grayscale's huge Bitcoin buying behavior combined with premium laced selling of Bitcoin shares has contributed to a significant rise in the first cryptocurrencies value. Reason number four, retail investors are starting to FOMO in. In the last one year, search interest in the keyword Bitcoin has appreciated thrice. This indicates that retail pockets are ready to come in in big numbers. But what's interesting is that even with relatively low search interest, Bitcoin price has spiked through the roof. However, it is mostly a result of institution-driven buying momentum. When the retail FOMO finally kicks in, it's going to be fireworks. If you look at Google's trending history from 2017, when we reached the previous all-time high compared to the current trend, we are only 25% of the way there. The fifth and final reason is people are buying Bitcoin to participate in the DeFi market. The Ethereum-based decentralized finance market has experienced unprecedented growth this year thanks to the yield farming craze. But what's even more noticeable is the growing supply of tokenized Bitcoin on Ethereum. This graph shows how people have amassed tokenized Bitcoin assets in exchange for the real coins to access several DeFi protocols related to lending, borrowing, swapping, etc. This has created buying pressure in spot Bitcoin markets, thereby resulting in an appreciation of Bitcoin's value against the US dollar. The number of Bitcoins on Ethereum is currently above 140,000, which gives a valuation of $3.3 billion to the Bitcoin on Ethereum ecosystem. The contribution of Bitcoin buying for tokenized Bitcoin conversion in the rally above $20,000, if not dominant, is at least to be considered.