Several years ago, Bitcoin was a relatively unknown phenomenon and only people ahead of the tech curve were mining and exchanging it on a regular basis. By 2017, that all changed, and Bitcoin skyrocketed from around $900 to over $20,000. Optimists in the crowd might have guessed that within a few years, its trajectory would continue to grow unabated, and we’d all be using Bitcoin (or some kind of cryptocurrency) for everything from paying our bills to buying groceries.
Consumers began clamoring to get a piece of the Bitcoin profit machine. Overnight millionaires populated headlines (and are still generating attention today), and hesitant investors on the sidelines began debating whether they should jump in at $20,000 or wait for a drop. That drop eventually came, of course, as Bitcoin now hovers around $8,000.