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Bitcoin

‘Stealth phase’ over? Why Wall Street FOMO will make $20K Bitcoin look cheap

The year 2020 sucked for pretty much everyone. Unless you’re holding Bitcoin (BTC) that is.

The price of Bitcoin is up 125% year-to-date, making it once again the best-performing asset just as it has been for the past decade.

Strangely enough, the public seems completely oblivious to this fact. But not everyone is ignoring Bitcoin’s latest rally above $16,000. Currently, the price is just 20% shy of its all-time high.

Wall Street is not here yet

Considering the impressive year Bitcoin is having, it’s not surprising that Wall Street is now starting to realize that the world’s first decentralized cryptocurrency isn’t going anywhere.

Remember 2017? That historic Bitcoin price rally was largely driven by retail traders — the average Joe — who were anticipating a Wall Street stampede alongside the frenzy of new tokens minted via initial coin offerings.

At the same time, the CME introduced their cash-settled Bitcoin futures right at the peak in December 2017 and… pop!

BTC price dropped sharply in the following months and the hype fizzled into a multi-year bear market. Obituaries from the news media made the average Joe eat the loss, and many wrote Bitcoin off as just another bubble that burst.

Google searches for “Bitcoin” pretty much tell the whole story.

 

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