Posted by Alumni from The Atlantic
December 23, 2024
Until now, the phrase crypto winter meant that cryptocurrency traders were facing hard times: a period of tumbling and depressed prices that had to be weathered until the good times returned. Today, though, the cryptocurrency industry is enjoying an end-of-year season more akin to 'brat summer': This month, crypto prices hit previously unheard-of highs, with bitcoin trading above $100,000. In this new Era of Good Feelings'to borrow a phrase from early-19th-century American history'skeptics have become believers, and a digital-economic instrument that was designed to circumvent, if not replace, the traditional financial system is becoming more and more integrated into it. The catalyst for this boom, of course, was last month's election of Donald Trump. Bitcoin's price fell this week, but it's still up almost 40 percent since November 5, and other major cryptocurrencies, such as ethereum and ripple, have seen similar spikes. It's not hard to see why. Trump nominated Cantor Fitzgerald... learn more