Bitcoin, here we come! Pundits are scrambling for explanations for the popularity of the crypto currency, which, as we all know, has had its highs and lows. Some blame the latest crackdown on cryptocurrency-related finance by regulators in Japan and the EU, others note that it’s been extremely difficult to talk about cryptocurrencies on television because the price of gold has almost tripled in the past few months. All true. Others say cryptocurrencies are increasing in popularity because the US federal government is about to impose capital gains taxes on them. If any of these observations are accurate, they are probably not rooted in the reason bitcoin had its peak price on Christmas Eve 2018, when it briefly reached $17,000, or on its immediate drop to a low of $7,000 on January 4, or on its drop all the way back to $5,400 by May 16. No, bitcoin boosters and haters alike seem focused on this puzzling—or, at best, misleading—demand. This is a mistake. For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance. https://www.truepnl.com/