Bitcoin’s 2020 explosion is not the 2017 bubble again
Early adopters who saw the potential in Bitcoin in the last decade have been waiting for this year their entire crypto investing lives. Bitcoin’s (BTC) recent volatile price corrections might conjure up images of the 2017 crash in your mind, or maybe even the crash caused by COVID-19 back in March of this year. But the fact that Bitcoin has reached $20,000 for the first time in history is not a reason to sound the alarm.Despite the fact that the price of the world’s most valuable cryptocurrency is up more than 225% this year, the current bull run we’re living through is unlike the Bitcoin....
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“It’s going to the mooooon!” pretty much sums up most popular analyses you’ll find about Bitcoin’s price. But do many consider that perhaps quite the opposite may be true? That due to the average person’s deep-seated discomfort with the trappings of cryptography, Bitcoin holders are actually making an incorrect bet — and are smack in the middle of a bubble? This lecture I gave at the University of New Mexico illustrates why if one or more cryptocurrencies doesn’t exit its “PGP” stage, it will not gain enough utility to leave the speculation stage. Hence, bubble. What is a ‘Bubble’ in....
NFTs are all the rage at the moment. At the same time, some, including Mike Winklemann, AKA Beeple, have described the situation as a bubble. “I absolutely think it’s a bubble, to be quite honest. I go back to the analogy of the beginning of the internet. There was a bubble. And the bubble burst.” […]
More people use Bitcoin now, but transaction fees are much lower than during the 2017 bull run. As Bitcoin (BTC) keeps hitting new all-time highs past $20,000, its network fundamentals paint a different picture compared to the previous 2017 bull run.Three years ago, on this very day, Bitcoin reached its first major all-time high of $20,000, recording up to 2,000% gains for that year. Over the course of 2020, Bitcoin enjoyed another price rally pushing its price to new historic highs and crossing $23,500 on Dec. 17 for the first time ever.Comparing the bull runs of 2017 and 2020, one may....
Cryptocurrencies like Bitcoin are the best form of money, Binance’s CEO says. Changpeng Zhao, the CEO of the world’s largest cryptocurrency exchange Binance, said that decentralized finance is here to stay despite many DeFi projects showing signs of being in a bubble.In a Nov. 17 interview with Russia’s news agency RBC, Zhao argued that “a lot of DeFi projects are already in a bubble, and I also believe that there are some signs of a bubble in the DeFi industry, but this does not mean that DeFi will eventually disappear entirely.”Zhao went on to say that the DeFi industry has a lot of....
Blockchain identity is already in use in various sectors of data management and technological development. With its applications so far, can we say that the Blockchain has lived up to expectations? Some experts think it’s overhyped, others see that late 2016/2017 will be the year of explosion for real-world Blockchain profitability and usage. That is, as long as politics doesn’t get in the way. What is Blockchain identity? Blockchain identity is also defined by Christopher Bates of Bitland as the representation of a 100% verifiable identity which can be established through a series of....