Bitcoin left the low phase and shot up. August had one of the best performances in years.
One of the many explanations is the weaker dollar. Historically, Bitcoin and gold usually benefit when the dollar loses strength.
Another point that calls attention is the public debt of the USA, that in August passed the US$40 trillion for the first time.
Alot of people seem be seeking assets that serve of protection against the growth of the debt.
We are seeing the beginning of a new bull market or only a temporary movement?
I like to think that there is no permanent move with bitcoin; all moves are temporary and happening alternately, and that is exactly how the market plays with the emotions of people.
Yes, the market is looking bullish currently, but the bullish move, as we all know, will also be temporal. As an investor, it is good you prepare your mind for that reality so you do not continue to think that the market will be permanently bullish. At any point the market may take a huge slump as it usually does and then take a while to get back and past the previous ATH that it set, market behavior.