The bitcoin price reached a new “high” over the weekend at $260 per coin, and all one can do is ask the age old question, “Now what?”
It’s a strange thing to ask, when one really thinks about it. Do we ask it because we believe the person next to us is a fortune teller or a psychic who can predict the future? Is it because we assume they are more knowledgeable and can therefore steer us in the right direction? Well, regardless of why one asks the question, it can be rather exasperating when we discover that the person or persons we’re asking don’t know the answer.
This is a question we’re asking bitcoin at the moment. “Okay, you’ve reached a new high and given us a little more room to trade in for the time being… Now what?” Well, that’s the trouble. No one really knows. If bitcoin has taught us anything, it’s that it’s as unpredictable as a storm. You expect one thing, and something else happens. One expects the oncoming storm to hit a certain region, when suddenly at the last minute it somehow changes course and hits another, as though it were laughing in our faces.
Bitcoin has been high before. It has also reached all-time lows that many of us remember a little too well. There is no “Now what?” with bitcoin because it’s always moving in different directions. It moves up, it moves down. The price reaches a high, the next day it lowers. What can one really expect? The solid truth is nothing.
In situations like these, perhaps the best thing to do is simply sit back and hope for the best. Send bitcoin a few strands of positive energy and hope that the price continues to increase, or if it doesn’t, hope that it thinks twice before dropping back down again for some time. Either way, bitcoin has made the decision to ascend the ladder, and for that, we have to be grateful… At least, for now…