With Bitcoin Pizza Day pushing BTC past $111,000, are we just getting started? How high is Bitcoin going to go from here in price discovery mode?
Why is Bitcoin going up?
Bitcoin 
btc-0.36%Bitcoin reached a new all-time high of $111,861 in early trading on May 22. The date also marks Bitcoin Pizza Day, which commemorates the first real-world purchase made with Bitcoin in 2010, when 10,000 BTC were spent on two pizzas. At today’s price, that amount would be worth over $1.1 billion.
After the intraday peak, BTC pulled back minutely to around $111,500 at the time of writing, posting nearly 8% gains over the past seven days.
The rise came even as U.S. stock markets declined the previous day, reflecting a growing divergence between Bitcoin and traditional equities and breaking the typical correlation seen with indices like the Nasdaq during periods of economic uncertainty.