If all the crypto bros loved bitcoin at nosebleed prices, should you like it now that it’s closer to earth?
This was supposed to be bitcoin’s moment to shine. Inflation is running wild, and Vladimir Putin is making not so veiled threats about nuclear war. A super-secure, super-rare digital currency was supposed to be the thing that would hold its value in the face of a twin shitstorm, writes Anthony Effinger in Willamette Week.
Instead, bitcoin has crashed, trading at $39,040 on March 8, down almost half from an all-time high of $69,000 in November. It looks more like the Russian ruble than a bar of gold.
So, is now the time to buy? If all the crypto bros loved bitcoin at nosebleed prices, should you like it now that it’s closer to earth? Will it start to behave the way its fans say it should during these troubled times and make you rich?
To answer that question, you have to know a few things about inflation, and about bitcoin.
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