Geek Culture
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They Laughed Each Time Bitcoin Had Low Values

20.10.2021 new all-time high — who’s laughing now?

Photo created by Andrea Piacquadio, from Pexels

Bitcoin just hit a new all-time high on October 20, 2021, surpassing the one of over 64,800$ from April 2021. It was a long and bumpy ride, but those who believed in the power of cryptocurrencies are now ripping the benefits. The ones who were skeptics and had a cynic or sarcastic approach are surely stunned right now.

The Skeptic’s Way of Discrediting Bitcoin

The main arguments against Bitcoin are opinions of some people, mainly financial experts, that the coin does not have a real use or utility, that is stupid and the people who buy it are stupid, that is just a bubble and many other opinions that are meant to discredit not just the coin, but the whole cryptocurrency business in general.

Let’s see where it all began and how the cycle repeated, bringing Bitcoin to new highs from time to time, leaving skeptics speechless and dragging all the altcoins with it.

Bitcoin’s Stubbornness: From Block Zero to… The Moon

Block Zero

According to the History of Bitcoin, the first mined Bitcoin was called block zero, or the Genesis Block. When it was first released as open-source software, Bitcoin’s value was zero.

Just a few cents, then 1$, then a hundred and more

Many people laughed when Bitcoin was just a few cents, others were simply ignoring it, and then the unimaginable happened: it reached 1$. This was back in 2011. It took only 2 years more to reach hundreds and only a few months more to pass 1000$.

Then, when the price of Bitcoin broke a new all-time high of over 19,800$, a CNBC analyst could not stop laughing hearing the news about Bitcoin, because he simply didn’t believe in the coin at all. Many things happened ever since.

In April 2021, there was a new all-time high of over 64,800$.

The journey to 100,000$ and beyond

In the summer of 2021, people were panicking that we are entering the next bear market. I had this feeling that it couldn’t yet be a bear market, and that the over 64,800$ peak was not the maximum Bitcoin can reach, and that there is more to come until it starts to go in the next cycle.

Here we are now on a new bull run and many experts are saying that the journey to achieving a 100,000$ value for 1 Bitcoin has begun, that the goal will be reached very soon.

bitcoin chart in StormGain
The image is a screenshot taken from the author’s StormGain account

There are also people saying Bitcoin will go back to zero eventually and others who say 250,000$ is not far either. Is the journey of Bitcoin “to the moon and back”?

Even if we assume it is, before that happens, there is still more to gain from the coin’s highs. Let’s all take advantage of it!

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Florin Marchis

Florin Marchis

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Digital marketing specialist from Romania, writing about nature, technology, self-improvement, spirituality, marketing, relationships, and travel.