2020 was unforgettable, especially for Bitcoin. To help memorialize this year for our readers, we asked our network of contributors to reflect on Bitcoin’s price action, technological development, community growth and more in 2020, and to reflect on what all of this might mean for 2021. These writers responded with a collection of thoughtful and thought-provoking articles. Click here to read all of the stories from our End Of Year 2020 Series.
What a year.
Bitcoiners began 2020 in a hopeful mood. After a quiet two-year bear market, with flat price action but notable technical advancements on the Lightning Network and Taproot, we were looking forward to “The Halvening” in May. We hoped that this event would act as a precursor to another bull run amid a robust global economy that indicated we had nothing but good times ahead. The rocket was fueled, when moon?
However, 2020 was a year when almost nothing went according to plan, with everyone’s lives disrupted by the unexpected arrival of a new virus from China, coupled with hamfisted and economically devastating government reactions to that virus as it quickly spread worldwide. We now come to the end of 2020 with a growing COVID-19 death count and a growing economic disaster looming on the horizon.
But despite all of the misery and trepidation, there is reason for hope and faith that we can recover and rebuild. There is opportunity amid the chaos.
This is good for Bitcoin.
Born In Chaos, Grown In Chaos
Bitcoin is no stranger to economic upheavals. It was born in the chaos of 2009, during the aftermath of the 2008 financial crisis that served as such an inspiration to Satoshi Nakamoto that he immortalized it in the Bitcoin genesis block.
2020 seems destined to mark the dawn of another financial crisis. But this time, Bitcoin is ready to perform. Setting aside the substantial health and medical impacts of COVID-19, the…