Posted: 2020-11-19 21:57:04

The return of $20,000 Bitcoin: what’s different this time around

From Jeff at The Ledger – Fortune
Originally published 2020 11 18
The other big difference from 2020 is that the current bull market is built upon more solid foundations. In 2017, the bubble was inflated by so-called Initial Coin Offerings, which saw hucksters sell mostly worthless new currencies to a greedy and gullible public, and then plow the profits back into Bitcoin. Little wonder things blew up. This time around, tighter regulation means there’s less dumb money sloshing around, while the media—distracted by COVID, politics and a roaring stock market—has been more subdued in hyping the rally.
All of this means that, while the coming era of $20,000 Bitcoin might be temporary, the cryptocurrency is, more than ever before, here to stay. If you want more insight about the bigger picture of Bitcoin, please check out my book Kings of Crypto, which drops from Harvard Business Review Press on December 15. In the meantime, enjoy the rally—and watch out for the inevitable hangover.
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Tags:Bitcoin,Bond Market,Central Banking,consensys,Digital,virtual,and cryptocurrency,Fintech,Societe Generale,The Ledger