The cryptocurrency landscape has been obsessed with the famous bull run of Winter 2017, but as bitcoin has surpassed its
all-time high price of $19,655
, the world of crypto may be venturing toward uncharted territory.
The COVID-19 market crash during the spring of 2020 saw BTC fall to around $5,000 momentarily before the prospect of a strong recovery drove fresh investment. Bitcoin’s movement was further bolstered later in the year by the news that PayPal
would be accommodating
the buying and selling of the cryptocurrency, as well as uncertainty wrought by the U.S. presidential election.
Global economic stimulus efforts in 2020 as a result of government response to economic damage caused by COVID-19 have also contributed to distrust in the crypto community in the ability of fiat currencies to sustain value.