Bitcoin has had a remarkable month.
In my opinion, Bitcoin is just entering the periphery of the mainstream.
The gains have been so exceptional that it's been in the news and on TV. However, most people (in my experience) don't really understand it or haven't taken the dive.
With Bitcoin's MC around $300b, that sounds like a lot, but it's still quite small. In Australia, our economy is around US$1.2 trillion, so it's still only a quarter of Australia's economy. Moreover, our property market is four times our economy or US$4.8 trillion.
So Bitcoin is still only worth 1/16th of Australia's property market - and it's a global currency.
In other words, Bitcoin is still being priced for failure.
That may seem insane given the recent rises, but this is still early days for Bitcoin.
I think Bitcoin is on track to finish this year at around US$30,000.
Theenigma
