Three years ago, Bitcoin¡¯s historic surge dominated Thanksgiving dinner conversations. This year, the cryptocurrency is in the midst of another notable rally, and yet almost no one¡¯s talking about it.
How fevered has Bitcoin¡¯s latest leg higher been? With the coin trading around $16,300 (?1.7 million), it¡¯s been more expensive in only eight other instances in the past decade, Bloomberg data shows. Almost all of those came during the 1,375% surge in 2017 that saw it reach close to $20,000 before a spectacular plunge wiped out 70% over the next year.
The world¡¯s largest cryptocurrency by market value has been through a boom and bust and a second boom since its frenzied heydays in 2017. A lot has changed in the years since, and cryptocurrency enthusiasts argue digital coins have gone through a maturing process. But the mania that surrounded digital currencies back then is largely absent, despite Bitcoin being about 15% shy of its vaunted record highs.
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