Bitcoin Makes a Comeback
It seemed that all hope was lost ever since the hype of Bitcoin and amongst other cryptocurrencies had died down after the highest peaks have been reached during the month of December in 2017. When the stock market had crashed after the massive nationwide shutdown due to COVID-19, there was still this form of currency that was awaiting to get its shine back.
The sleeping giant of Bitcoin has regained interest by many investors around the world as a form of currency that may still replace traditional FIAT currency. As the chart below indicates the interest over the past five years using Google Trends, the comparison between the United States Dollar and Bitcoin shows a sign of hyped interest, but nevertheless a good sign for bitcoin miners, investors, and believers.
Only time will tell whether the rise of Bitcoin might be just another fad. After all, the instability of the economy and the ever inflating US Dollar during these tough times are surely worrying the masses. Bitcoin has been said to be “inflation proof” since there are only 21 million BTC that can ever exist, and it having reached the all time high of $40,000 USD during early 2021 one can only wonder how much higher this may go.
