To some, the highest highs of Bitcoin may seem like a lost memory. For a second there, it was such a big deal we were seeing references to it even in popular media. The tremendous value of a single Bitcoin was talked about in almost reverent tones.
And those same numbers happened again. As of 11/20/20, 3:15 EST, Bitcoin is worth over $18,000. Putting it just shy of its previous highest worth. The trend of the graph is frankly jarring to look at compared to its humble roots in 2014.
And a likely candidate for this rise is the recent election. Gold tends to increase in value when it looks like a Democratic president will hold office. Bitcoin is often considered similar to gold in its appeal, so, perhaps not surprisingly, cryptocurrency also rose. If it holds into the president’s term is another matter, but, for now, the wave is likely bolstering the cryptocurrency.
Those who have been with Bitcoin since the beginning are no doubt celebrating these huge jumps and general trends. The novel idea of cryptocurrency has shown that it can sustain itself. And we’re excited to see what happens next with it.