It took bitcoin (BTC) 10 years in existence to reach the $20,000 mark, on Dec. 15. Then it took just 15 days to reach $29,000. It took the Dow Jones almost three years to make the same move.
Bitcoin started the year at $7,200. It’s ending the year close to $30,000, up 296%. (For comparison, the Nasdaq is up 43% in 2020, the S&P 500 up 16%, the Dow up 7%.)
The 2020 bitcoin bonanza can be chalked up to a convergence of many positive factors, as well as a convergence of narratives.
In the past,…
Source link
