Bitcoin’s Price Is a Poor Proxy for Its Utility

I have looked on with interest over the past two months as bitcoin has climbed to approach its previous all-time high. That old high-water mark occurred in the midst of hysteria. The price action of the time, three years ago, can only be described as mania. It was, to use the Gartner Hype Cycle language, the “Peak of Inflated Expectations.” In financial terms, it was a bubble.

This rally is different. This time has not been marked by a wild influx of speculative investors. We have not…

Source link

About bitcoin

Check Also

Bitcoin price nears $63k all-time high: Here’s why

SOPA Images/Getty Bitcoin is at it once again. The original Source link

Leave a Reply

Your email address will not be published. Required fields are marked *