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 2018, that’s a $20 bump on the previous all-time high of ~$1,165.
Apologies to those waiting for a ‘why’ analysis, I’m sorry, but I’m not going there. I actually don’t 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 out this week, bitcoin and gold almost hit price parity. Personally, I’ve been watching this pair for a while as I really like the ‘digital gold’ metaphor. It’ll be fascinating to see if the lines cross any time soon.