Bitcoin Is Trading At Its Highest Since 2018
“Bitcoin prices have experienced some newsworthy gains today, climbing to their loftiest value in more than two years. The world’s most prominent digital currency reached $16,786.89 this afternoon. At this point, it was trading at its highest price since January 2018 and had climbed more than 333% since hitting a 2020 low below $3,900 in March. When explaining these latest gains, analysts pointed to several factors as helping fuel continued upside in bitcoin…”
Fidelity Addresses Persisting Bitcoin Criticisms
Fidelity recently took on six “persistent” criticisms, including Bitcoin’s volatility, environmental wastefulness and illicit activity usage. A main point was that “Bitcoin makes deliberate trade-offs, such as limited and expensive capacity, to offer core properties such as decentralization and immutability. Given its high settlement assurances, Bitcoin optimizes its limited capacity for settling transactions that aren’t well served by traditional rails.” Addressing Bitcoin volatility, the article posits that “true price discovery accompanied by volatility might be preferable to artificial stability if it results in distorted markets that may break down without intervention.”
