Where Is The Bitcoin Resurgence Coming From ?
The beginning of 2023 has seen Bitcoin regain some of its old fervour and pull itself up above the $20,000 mark for the first time since early November. The big question, however, is why? The marketplace is no more rosy now than it was then, with exchange crashes and stories of fraud aplenty. And Bitcoin's much-heralded safe haven characteristic - the 'digital gold' - as it once was called, has never truly come to pass. On top of that, inflation and high interest rates mean we all have less disposable income than we did this time last year and during the pandemic, and investing for a brighter tomorrow is no longer a top priority. So, what's going on? A popular myth when it comes to investing is that of supply and demand. The theory is that when something is lacking, it becomes more expensive and sought after, and when it is in abundance, it becomes cheaper and less interesting. Sounds logical, huh. Works for bananas, petrol, house prices. But does it...