Bitcoin: It’s Not Over Yet

Bitcoin: It’s Not Over Yet
A person holds a visual representation of the cryptocurrency Bitcoin, at the "Bitcoin Change" shop in the Israeli city of Tel Aviv Feb. 6. Jack Guez/AFP/Getty Images
Valentin Schmid
Updated:

Both bitcoin skeptics and supporters get too hung up on the price. If the price is up, bitcoin is taking over the world, say the supporters. If the price is down, it’s proof that bitcoin is a scam or a bubble, according to the skeptics.

The problem with this simplistic analysis—it depends on the whims of a very volatile monetary instrument. Supporters thought the financial revolution was here at $20,000 in December of 2017. Skeptics thought bitcoin finally died when it briefly crashed below $6,000 in February of 2018.

Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
Related Topics