By Ben Carlson of A Wealth of Common Sense
We (Ben Carlson of A Wealth of Common Sense) had Zac Prince from BlockFi on our podcast to discuss investing in bitcoin over Thanksgiving weekend.
At the time the price of bitcoin was hovering around $17,000.
It was up nearly 80% in the 2-3 months proceeding this and things were beginning to feel a tad frothy so a number of people joked our show would surely mark the top of this cycle as an indicator.
Six weeks later and the price has more than doubled, hitting
$37,000 $38,000 $39,000 $40,000 $41,000 this week.
Following the crypto frenzy of late-2017, bitcoin fell more than 80%. Yet from those levels it’s now up more than 100%
If bitcoin were to experience a similar crash as it had following the 2017 run-up in prices, it would only fall back to levels last seen in May.
Good luck guessing where this one ends…. Read More