While you’re undoubtedly “in it for the technology,” the most popular and hotly-debated topic, particularly as far as public interest is concerned, remains the price of Bitcoin (BTC) and speculating on its value in the future.
Currently, Bitcoin is in a bull market cycle, up over 200% year-to-date and outperforming everything else in 2020 with the exception of a few stocks like Tesla. But this rally seems different than the one in late 2017. For one, the all-time high has been definitively broken. Second, institutions are accumulating — while the public still sits largely on the sidelines.
“We are in a flood of money and credit”
Six-figure price predictions per Bitcoin are becoming increasingly common for this bull cycle with accelerating central bank monetary expansion as the key driver.
In fact, billionaire investors such as Ray Dalio are beginning to warm to the idea of Bitcoin alongside gold as a way to diversify against what he calls “the depreciating value of…