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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.
Validation. Psychology. FOMO. NLW looks at why today’s price achievement marks a turning point in bitcoin’s history.
STORY CONTINUES BELOW
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
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.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
