Zhao noted that four years ago, people would have been happy with Bitcoin’s current value of $20,000. The digital currency has previously fluctuated between $13,000 and $6,000 in 2018.‘I think given this price drop, from the all-time high of 68k to 20k now, it will probably take a while to get back. It probably will take a few months or a couple of years,’ Zhao told the Guardian, adding that ‘no one can predict the future’.
As well as the cost of living crisis, inflation has been soaring in recent months – hitting a 40-year high in the UK back in May – and it’s not just the UK which has been experiencing this, with inflation in the US also rising to around 8.6%, according to Marketwatch.
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