Gold shows that Bitcoin could go up more despite the blowoff top, according to an economist

Hodler is currently delighted with the green sign of the Bitcoin price every day. What are the chances for a new all-time high? A little over 2.5 years have passed since the last time the Bitcoin price and its fans celebrated their all-time high. It was in December 2017 that the largest cryptocurrency by market cap scratched the $ 20,000 mark. The market was completely overheated. The Bitcoin price had started the year just below the $ 1,000 mark, it had increased twenty-fold by December. And the mood on the market was boiling.

Everything went far beyond the crypto-cosmos
Suddenly the discussion about Satoshi Nakamoto’s money machine went far beyond the confines of the crypto-cosmos; Mainstream media suddenly reported the breathtaking gains. It was the entire crypto market that fluffed up like a budgie that wanted to fly skyward. Initial coin offerings (ICO) sprouted up everywhere and waved with great wealth. For every conceivable air shack, it was possible to pound new token projects out of the ground, including price increases. The euphoria was unchecked, the crypto parakeet took off – and burned its wings. The ICO bubble was fizzled out a short time later, few projects remained, only the strongest were able to hold their own.