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Opinion

Why $20,000 Bitcoin Matters

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

By Nathaniel Whittemore
AccessTimeIconDec 16, 2020 at 4:05 p.m. UTC
Updated Sep 14, 2021 at 10:44 a.m. UTC
AccessTimeIconDec 16, 2020 at 4:05 p.m. UTCUpdated Sep 14, 2021 at 10:44 a.m. UTC
Breakdown 12.16
AccessTimeIconDec 16, 2020 at 4:05 p.m. UTCUpdated 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. 

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

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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 

See also: Bitcoin Hits Record Above $20K as Analysts Remain Confident of Future

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.

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