Cryptocurrencies
Bitcoin Crushes Doubters as 224% Rally Proves It’s Here to Stay
- Demand has proven to be impervious to wild price swings
- Bitcoin supply was pinched off in halving of reward to miners
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Bitcoin just won’t go away. The original cryptocurrency again had commentators eating their words in 2020 -- yours truly included. It’s now time to accept it’s here to stay.
Like Monty Python’s Black Knight, Bitcoin believers treat near-fatal volatility as mere flesh wounds. Drops of 80% are welcomed as fortuitous buying opportunities. But far from being a weakness, this is evidence of the asset class’ longevity. The cryptocurrency rallied 224% this year, bringing to mind the wild advances of 2017 as it soared to record highs.