Bitcoin is making waves as the year draws to a new high after a lackluster performance.
The price of bitcoin has been on a tear, breaking through $400 for the first time since 2014. This time, bitcoin surpassed its previous high, something it hasn’t done since last summer.
You can make fun of bitcoin’s performance this year, but bitcoin’s current price is certainly encouraging for bitcoin supporters. Bitcoin did exactly what most expected last year, as shown by the following chart (from Blockchain) :
As the chart shows, bitcoin is in its second upswing. Bitcoin’s price is just one indicator, but it’s an important one. The higher the price of bitcoin, the more media attention it gets.
In recent discussions of Bitcoin and Blockchain, people have talked about what is useless, what is fact, and what is the future. Arguing over Blockchain versus Bitcoin is pointless; It is true that Bitcoin is important as a financial means of supporting Blockchain; Watching bitcoin’s own growth is looking to the future.
Bitcoin’s price fluctuations have attracted media attention. This will reopen a larger discussion of Blockchain. Blockchain and Bitcoin will forever be linked, yet remain relatively independent.
So the past few weeks have been good for bitcoin. What about record prices? Sell it. Will trading volume increase? It’s easy. Bitcoin now confuses both its believers and its detractors. Believers believe bitcoin will explode. Its detractors argue that bitcoin will crash.
Revolution comes step by step. Who knows what the future holds.