Bitcoin could hit $ 20,000 again, but this time nobody cares

If you’ve been observing the crypto markets over the past few weeks, you’ll have noticed something special: Bitcoin, everyone’s favorite decentralized digital currency based on hype, lies and general malfeasance, is on. the point of reaching $ 20,000 – if it can break through what is called a “resistance zone,” a financial term describes a price that an asset simply cannot reach.

The currency was last at $ 20K on December 17, 2017, during a surge that brought thousands of new “investors” into the market. I distinctly remember seeing the busboy in a restaurant buying bitcoin and ignoring his boss in December, a corollary of old Wall Street saw that when your shoe shiner gives you stock advice, it’s time to sell. It is not known whether or not this boom will lead to a collapse, but all signs point to ‘yes’.

The rise in the price of BTC usually coincides with global unrest or drastic changes in the bitcoin algorithm. The currency itself emerged during the 2008 crash that swept away financial companies across the globe, and the latest boom seemed to coincide with a crackdown on crypto by several global governments. Cryptocurrency Fans See Digital Tokens As A Cover against political turmoil – the kind of political turmoil that could follow the election of a major world leader.

A bitcoin investor, Daniel Moravec of Bitcoin Mavericks, said he believes the price hike is being spurred by inflation threats in 2021.

“You can’t print more bitcoins after they’re gone,” he told us. “Additionally, I think the current bitcoin inflation rates are actually lower than the current fiat currency inflation rate.”

What does this mean in Main Street Talk? Cypherpunks are bypassing the global economy. And will it continue to increase? Probably for a little while, at least according to investors.

“Investors are positioning themselves for a continuation of the bull market,” said Vishal Shah, founder of the Alpha5 derivatives exchange. CoinDesk. Shah has seen currency options sales hit an all-time high, a factor that suggests bigger players are ready to bet on BTC.

While there is some mainstream media coverage, the same general wave of excitement that accompanied the 2017 hike is nowhere. Cryptocurrencies are fickle things, and bull races are rare and dangerous. The latest bull run saw BTC drop to around $ 4,000 in November 2018, leaving many fans exhausted and strapped for cash. In many cases, you are better off buying and reselling a PS5 or new Xbox if you are looking for a sure budget thing.

Ultimately, a silent increase in BTC could be better for everyone. Ben Munster, a former crypto journalist, told Gizmodo he welcomed the silence: “Maybe this time Bitcoin fans will do enough to stop tweeting. But I doubt it.