To The Moon š
This week has been a cracker for bitcoin, with it reaching a new all-time high. This week it was
trading at around $1,186. For those who remember bitcoin mania circa November 2013, thatās a $20 bump on the previous all-time high of ~$1,165.Ā
Apologies to those waiting for a āwhyā analysis, Iām sorry, but Iām not going there. I actually donāt think anyone really knows why - beyond it continuing to fuel some black market industries and capital flight. I highly recommend being dubious of those who pretend to be price oracles. Especially those who tell elaborate conspiracy theory stories around price movement.
Interestingly, as
Zerohedge pointed outĀ this week, bitcoin and gold almost hit price parity. Personally, Iāve been watching this pair for a while as I really like the 'digital goldā metaphor. Itāll be fascinating to see if the lines cross any time soon.
ā Alan Tsen, @alantsen ššÆ
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