CRYPTO ROLLER COASTER
We’re hitting a sort of news singularity with Bitcoin at this point. The rush to report price changes can’t keep pace with the reality. In 24 short hours, its trading price has gone from around $12,000 to $16,000. Now the biggest question is: How long is it going to be before these investors are putting us all at risk?
As I write this post, Coinbase values a single bitcoin at $16,949.94, and by the time you read it, the price could blow past a million or drop to nothing. In January, you could’ve picked one up for $780. All year, we’ve seen the price of cryptocurrencies yo-yo based on news of tighter regulations, hacks, digital kittens, and many other factors. Each new twist in the Bitcoin yarn causes a momentary kink before the price spirals up and up again.