Blockchain and Cryptocurrencies: three years after the dizzying rise of Bitcoin, where are we now?
Published on 16 November 2020 by NEOMA
- TECH Blockchain
In November 2017, Bitcoin (BTC) made a dramatic entrance into the big ring through its swift rise in the market. It was valued at $1,000 in March 2017. Then it briefly flirted with a value of $20,000 in mid-December of the same year. Later it experienced a precipitous descent over the year of 2018, with its lowest value touching $3,500 in November 2018. This episode brought it great scorn. Certain figures such as Warren Buffet and Jaime Damon saw it as their prediction coming true: BTC is a “scam” and will not survive. How can a currency that is based on “nothing” be seriously considered to succeed?
Nathalie Janson, associate professor of Economics, NEOMA Business School sheds light on it in an article on the NEOMA BLOG.