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There have been so many bizarre developments over the course of 2020 that have made me think, “There’s no way things can get even weirder, right?” only for the year to loudly proclaim “HOLD MY BEER!” before somehow managing to outdo itself. As a result, I’ve come to expect the unexpected and there’s virtually nothing in the universe that’s capable of surprising me at this point—including a tear in the space-time continuum that results in the past beginning to bleed into the present.
During any other year, that would be an absolutely insane claim to make but I’m not ruling it out when it comes to explaining why the world has once again become obsessed with Bitcoin three years after everyone and their mother climbed aboard the hype train only to see it derail in truly spectacular fashion.
If you were one of the many people who decided to add some virtual coins to your portfolio around this time in 2017, you probably got a literal crash course when it comes to investing in something because everyone else is while ignoring the warnings of the multiple experts who correctly predicted it was a massive bubble waiting to burst.
If you’re like me and jumped off the bridge with everyone else just before Bitcoin went into a freefall of its own, you probably spent a few months holding out hope before cutting your losses, telling yourself you’d never make the same mistake again before getting way too into trading penny stocks on Robinhood. However, if you decided to HODL, your patience finally paid off this week after the cryptocurrency surged past the $20,000 mark and continued to climb to all-time highs (it’s currently hovering around $23,400 as of this writing).
If you need any more proof that time is a flat circle, the spike has also resulted in the sudden reappearance of the Bitcoin bulls who swear this is only the beginning, as MarketWatch reports more than a few investing experts are convinced the ceiling could be dramatically higher in the long-term. That includes a former Goldman Sachs analyst who predicts it could hit $250,000 by this time next year in addition to the CIO of Guggenheim Partners, who claims its price should actually be closer to $400,000 due to its relative scarcity.
I’ll let you decide what you want to believe, but to paraphrase the words of George W. Bush: fool me once, shame on you, and if you fool me, I can’t get fooled again.