Top 3 Reasons Why Crypto Prices Are Up Right Now

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Bitcoin is up 23% in August and heading for its best month since 2017. Three things explain almost all of it, and only one is about crypto.Bitcoin is holding just above $80,000 after climbing from the low $60,000s earlier this month. That is a gain of about 23% in August, putting it on track for its best August since 2017, in a month whose median historical return is actually negative 7%. The total crypto market sits near $2.75 trillion.BTC/USD chartAlmost all of it comes down to three things. Notably, only one of them has anything to do with crypto itself.AdvertisementTop 3 Reasons Why Crypto Prices Are Up1. The Treasury pushed liquidity into the systemThis is the trigger, and it is the one most people are underweighting.The rally started when the US Treasury expanded its bond buyback operations, which pushed long-term yields and the dollar lower. Cheaper money and a weaker dollar send capital toward risk assets, and crypto sits at the far end of that curve. Adding to it are re...