Somehow the Bitcoin roller coaster just keeps climbing, leaving many people wondering when it will finally crest the top of the hill and tumble down the other side or if it may just climb right out of the atmosphere.
On Saturday the price of a single Bitcoin briefly crossed $19,700 on Coinbase, which is remarkable for the cryptocurrency that was trading for under $1,000 a this time last year and under $8,000 only a month ago. In just the past seven days, Bitcoin is up nearly 35 percent.
All along the way there has been talk of a Bitcoin bubble about to burst, and as the price approaches another psychological milestone at $20,000 the question of whether we've finally reached the peak is top of mind once again.
Bitcoin is notoriously volatile and it may not be well known that its price has actually crashed a handful of times in the past, when it was less on the mainstream radar.
On Saturday the price of a single Bitcoin briefly crossed $19,700 on Coinbase, which is remarkable for the cryptocurrency that was trading for under $1,000 a this time last year and under $8,000 only a month ago. In just the past seven days, Bitcoin is up nearly 35 percent.
All along the way there has been talk of a Bitcoin bubble about to burst, and as the price approaches another psychological milestone at $20,000 the question of whether we've finally reached the peak is top of mind once again.
Bitcoin is notoriously volatile and it may not be well known that its price has actually crashed a handful of times in the past, when it was less on the mainstream radar.
I think many of the previous crashes were significant events like Mt.Gox and then we had some abrupt panic selling (15th November weekend) where it lost about a third and BCH overtook its hashrate briefly before climbing to a new ATH by Monday.
Today, there are lots of exchanges, it has decent credibility and there is still demand for it, it'll be volatile but I reckon the worst that will happen is a significant correction. If there is something we call a 'crash', I am honestly hoping it'll take out all the shitcoins so the crypto community is left with good and innovative stuff like Bitcoin, Ethereum, Litecoin, maybe Dash, etc.