Bitcoin at $18k in 2020 Is Not the Same as Bitcoin at $18k in 2017
Not even close. Here’s why.
Ah, how I sigh when I think back to the heady and wild days of the cryptocurrency boom in late 2017 and early 2018.
It’s funny, but somehow I now think of that crazy brief period of madness in the same way as I think about all the stupid stuff I did as a teenager on various “lads” holidays decades ago in (thankfully) pre-social media times.
In both cases, even though one is considerably more recent than the other, I can’t help defer to the universal “get out of jail free” card of:
We were young. We didn’t know what we were doing.
If you were there, you probably know what I mean. It’s an analogy that’s full of holes, and yet somehow it still works.
A purely speculative buying frenzy had started the move on the bitcoin price, which, in turn, attracted buyers for no other reason than “number go up.” Who cared what it did or how it worked? No one, apparently.
But some of us did care. Some of us really believed that Bitcoin was the way forward, that a new universal store of value could level the playing field for everyone and that a new era of trade and productivity could be facilitated by a new technology of money.
