The recent volatility of the cryptocurrency markets can be attributed to increased geopolitical uncertainties. What I haven’t seen before, though, and what has been making me feel proud and amazed, is that Bitcoin is remaining stable—really steady.
I have not encountered such steadiness during my brief exploration of this area. Naturally, by the time this is published, it may crash, which made me consider one of the most prevalent worries that people who are unfamiliar with Bitcoin still harbour: “What if it falls to zero? However, I no longer have that dread.
Let’s go back in time. In times of uncertainty, I prefer to check previous Bitcoin values, but they can’t be too old or I start to feel bad about taking so long to start investing. (Consider purchasing Bitcoin on February 21, 2014, when it fell to $111.60 following the bankruptcy of the Mt. Gox cryptocurrency exchange.)
Eighteen months ago, Bitcoin was worth over $42,000, a significant increase from $25,000 in September 2023. Since its launch in 2009, Bitcoin has beaten other, more conventional investment routes like the S&P or gold, as seen by a cursory look at the charts. Moreover, it’s beginning to feel dare I say, much less explosive recently, too. That is a significant issue for those of us who are paying attention. Since everyone, from Pakistan to the US firm GameStop, wants it, what happens when the asset previously chastised for its volatility stops being volatile?
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