Bitcoin Hits All-Time High: Now Worth Over 23,000 USD

[mb194dc]

If it's so "bad out there", why is the price of Bitcoin going up? If anything, Bitcoin should have gone down during Covid. I would think that broke people wouldn't be able to afford it.

Its just a speculative bubble. Maybe helped by so many stuck at home during COVID-19. For me the value of crypto is derived from how much hype and spam is being generated about it on social media, reddit, forums and the rest. Then greed takes over.

Such insanely high levels of claims suggests it is indeed bad out there. If you compare to 2008/9, the peak in weekly claims was 670k~ back then. Figures been above that in every week since the pandemic started and continuing up 1.6m in the last weeks stats alone.

 

[Flanker]

Since You can't currently use a credit card on pornhub, only cryptocurrency, I guess bitcoin worth will go even higher.

I swear there used to be a credit card option lol

 

[Mescalamba]

ALL Bubbles Eventually find a Pin.

Thats going to be fun. Just when current "normal" markets find pin, that probably wont be fun.. and thats going to happen too. Most markets are going up for pretty much no reason at all.

Its just a speculative bubble. Maybe helped by so many stuck at home during COVID-19. For me the value of crypto is derived from how much hype and spam is being generated about it on social media, reddit, forums and the rest. Then greed takes over.

Such insanely high levels of claims suggests it is indeed bad out there. If you compare to 2008/9, the peak in weekly claims was 670k~ back then. Figures been above that in every week since the pandemic started and continuing up 1.6m in the last weeks stats alone.

Sorta. BTC had halving not so long ago, next one is going to be last. Its finite in design, so its heavily deflating currency. For market it takes time to move. Also that big dump during initial COVID-19 hit (when most markets did deep dive too) helped a lot.

Unlike regular markets, BTC does have some logic in growing and going upwards.