Crypto-Mania Resurrected

by Pater Tenebrarum
Acting Man

The Investment Asset of the Century Makes yet another Comeback

Even the most ardent cryptocurrency bulls are probably slightly slack-jawed at this juncture and can hardly believe it. To be sure, many people were undeterred by the vicious bear market that saw BTC melt down from just below $20,000 in Dec. 2017 to less than $3,300 in Dec. 2018, but we doubt that even these steadfast believers in the grand-daddy of cryptocurrencies expected to see new all time highs in less than two years. Oh well…

[…] The nice thing about cryptocurrencies like Bitcoin is of course that no-one has the foggiest idea what they should be valued at. All that is known in the case of BTC (apart from the undeniable technological progress the blockchain represents) is that it has a fixed supply. Apparently that means that any fantasy number can be thrown out by forecasters, and they are definitely not shy about doing just that.

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