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Why $20,000 Bitcoin Matters

Validation. Psychology. FOMO. NLW looks at why today’s price achievement marks a turning point in bitcoin’s history.

CoinDesk Insights
Dec 16, 2020 at 4:05 p.m. UTC
Updated Sep 14, 2021 at 10:44 a.m. UTC

Validation. Psychology. FOMO. NLW looks at why today’s price achievement marks a turning point in bitcoin’s history. 

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

This episode is sponsored by Crypto.com and Nexo.io.

After weeks of flirting with all-time highs, bitcoin has broken through the most significant psychological barrier: $20,000. 

In today’s episode of The Breakdown, NLW looks at why the moment is so significant, arguing:

  • Bitcoin is an incentive design system where price drives more benefits than financial gain 
  • The validation of retail traders and more recent institutional investors creates an even stronger group of evangelists 
  • The psychological price barrier is likely to increase FOMO among those on the sidelines 

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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