We know that you’re probably a bit weary from reading about Bitcoin’s price drama, but now that the currency has reached the $4,000 mark, how about we talk about it in a Christmas story format?

The Ghost of Bitcoin Past

If you were one of the lucky hodlers this time last year, then your day probably started with a breakfast of Cristal champagne before getting into your Lambo and embarking on a wondrous day filled with oysters, truffles, and long drives around the countryside. You may even have ended the evening with a party on a private yacht.

Who knew what could happen at a time when the world’s very first cryptocurrency was trading at a FOMO-inducing $19,000? It was the time for celebrations, newly-minted millionaires, and feeling that the sky was the limit.

Adoption was obviously something to aspire to but the excitement of those big numbers was hard to look past. Good times.

The Ghost of Bitcoin Present

Things are looking a bit different this year, aren’t they? Bitcoin’s plunge started not long after the purchase of that shiny new Lambo in December last year.

January still had some highs of over $17,000 but it also saw Bitcoin touching $10,000, a number once thought unattainable in its upward trajectory and now capable of issuing a slight flutter of dread at what might be coming.

Fast forward to December this year and the currency is trading at just over $4,000 at the time of writing. While nowhere near last year’s price, Bitcoin does have some good things going for it.

Adoption is a major driving force, with the currency being accepted at a range of establishments all over the world, including universities. That’s right, our workers and even leaders of tomorrow are using virtual currencies to pay for their education.

Regulation is also on the increase, which, while sounding ominous, is a good thing. It means that the powers that be are viewing cryptocurrencies as a key component of the financial future. You wouldn’t be spending all of this time and energy coming up with regulatory frameworks for something that you think will disappear in a few months, right?

And while not trading at $20,000, Bitcoin is still worth a respectable amount. A long way away from its initial price of less than a dollar.

The Ghost of Bitcoin Future

Bitcoin has touched the $4,000 mark, which is a reason to celebrate. Also, industry experts believe that a positive decision from the SEC with regard to the Bitcoin ETF could bolster prices even more.

It’s also important to realize that progress looks different for everyone, or in this case, every crypto. This time last year, you couldn’t pay for your beer in Bitcoin and now you can in at least one brewery in London. You can also buy a house with crypto or even if a car if you want to.

We haven’t even mentioned blockchain technology and the varous ways that it is being integrated into businesses all around the world. How about the knock-on effect of pushing governments to work on state-backed currencies? That’s all thanks to disruptive technology.

That being said, it would be nice for Bitcoin to triple in price before Christmas, just in time to get the latest Lambo in your favorite color.

#christmasmiracle anyone?

Images courtesy of Flickr from A Christmas Carol (1951)