Are we back in bubble territory? The rise and rise of bitcoin

Jon Ovadia, founder of Ovex, and Jason Carpenter of Etherbridge unpack the phenomenal rise of bitcoin in 2020 and what the future holds for cryptos.

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A bubble forms around a business sector of the economy. e.g. IT/technology, property, etc.

What is the sector that is being valued by Bitcoin?

Almost every year there were statements that Bitcoin is a bubble, etc. But still it is up more than 200% from this year’s low outperforming all sectors. Since its existence (10 years?) it is still very alive, gaining strength and institutional buy-in. It has increased in price by more than 2,000% (over 10 years), which is fairly remarkable. So I agree that it is worth the risk and everyone should invest a small amount of money in Bitcoin just in case it does live up to its potential. Eventually the price will settle, but it seems that point is still far away.

What underlies Bitcoin that determines its value? What makes its value go up or down that you can look at and anticipate movements?

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