The Bitcoin community can’t quite believe it yet. But on Monday, November 30th, BTC posted a new all-time high. But some Bitcoiners want to be on the safe side and leave the corks in the bottles until the cryptocurrency exceeds 20,000 US dollars (USD).
The Bitcoin community is undecided: Has the industry leader now printed a new all-time high, or not? When the price of the best cryptocurrency of all time exceeded the mark of 19,832 US dollars (according to data from Coingecko ) on Monday, November 30th, many Bitcoiners already let the corks pop. All-time high!
The community shouldn’t be in a party mood just yet. After all, it was only a brief interlude with the previous, almost-three-year-old All-Time High at 19,665 US dollars (again Coingecko ).
With the all-time highs, it’s like that: Different crypto exchanges aggregate different price data; Depending on the trading volume and the nature of the order books, quite different price data can appear. BTC set the all-time high on Kraken at the beginning of November. There, BTC only traded at $ 16,220 during the 2017 Bull Run.
In short: Not all Bitcoiners are convinced of the new all-time high. Currently, they agree on the round value of 20,000 US dollars to pop the corks on all sides. Nic Carter asks “Señor” Bitcoin to please clean the table as soon as possible.
I can’t stand this partial ATH. Señor Coin should better remedy this situation quickly.
And then the business paper Bloomberg published another piece on the Bitcoin cause that is quite remarkable in several respects. Under the title “Bitcoin Is Winning the Covid-19 Monetary Revolution,“ Historian Niall Ferguson deals with the digital age and how it affects the development of money. The text is remarkable in many ways. On the one hand, he traces the value proposition of cryptocurrency №1 according to the general narrative and sees Bitcoin as having an advantage, mainly due to its scarcity. On the other hand, Ferguson calls on the elected US president to integrate Bitcoin into the US financial system in order to counter the dystopian developments in China. Bitcoin was developed for free societies — thanks to the CBDC system sought in China, private payments will soon be a thing of the past.
We are living through a monetary revolution so multifaceted that few of us grasp its full extent. […] Bitcoin offers built-in scarcity in a virtual world characterized by limitless abundance.
The core of Ferguson’s argument is twofold. On the one hand, Bitcoin is designed as hard money to counterbalance the inflationary zeitgeist. On the other hand, Bitcoin is a bear instrument that ensures sovereignty. Niall Ferguson correctly recognized that the “immutable,” i.e., unchangeable, and BTC offers a security from censorship and confiscation that has existed before.
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