With Bitcoin on another run, we have to look at whether or not it has any headwinds in the near future that could slow these rallies down and the answer could very well be a resounding…NO!

Bitcoin went on another rally in the last 24 hours, reaching historic highs yet again. This is even with the recent rumors that South Korea, a large trading center for crypto, may be looking to implement regulations. Also, Vietnam, although a small country, has announced it has outright banned crypto currencies and will start fining those who use it or trade it in the country.

But with this bad news, Bitcoin is still rising and makes me wonder, is Bitcoin FUD proof at this point? Let’s look back a little bit to see how fast Bitcoin has shrugged off other bad news. Just over a month ago, China announced that it was shutting down exchanges until regulation could be put into place. This caused a fall in Bitcoin but it bounced back within 2 weeks and after that, went on to set record highs. We also had Jamie Dimon, CEO of JP Morgan who went on a TV blitz calling Bitcoin a scam, and a fraud. This was timed with the Chinese news, but it caused a fall in Bitcoin as well, but once again Bitcoin shrugged it off and went on to new highs.

Now lets look at the last few days. We had another financial bigwig, Warren Buffet come out and say Bitcoin is a just bubble, but it had no effect on price. Then we have the news of South Korean regulation, and the price jumps UP! It would seem as though Bitcoin has become FUD proof to almost any news. It looks like news that would harm Bitcoin in the past has virtually no effect now.

The reason I bring all of this up is because it points to something that is a very strong market indicator and that is that markets are driven by sentiment and belief. What I mean is, the price of Bitcoin is rising because people believe in it, and no bad news will convince them otherwise, at least for now. Yes they believe in the tech, but it’s the name they believe in. The Bitcoin brand. And when investors believe, the price goes up. And the more the public believes in Bitcoin, it rises even higher.

So at least for now, it seems Bitcoin is FUD proof.