Could the Bitcoin price ever return to $19,000?

I believe the Bitcoin price is a pretty poor investment. In my opinion, because the asset has no underlying cash flows, it’s impossible to value and, as a result, it’s impossible to tell whether you’re overpaying or underpaying for the cryptocurrency. 

However, my view is just one of many. There are still thousands of Bitcoin investors and supporters out there continuing to believe the cryptocurrency could be worth many multiples of its current price. 

Back to $19,000?

Some of these supporters believe the price of Bitcoin could ultimately exceed its all-time high of more than $19,800, printed at the end of 2017.

These supporters argue that the price of the crypto asset will be forced higher if governments continue to print money, and the value of that currency is eroded. Because only a limited number of Bitcoins can ever be produced, they argue, the asset cannot be controlled by governments. 

The problem is, it’s impossible to tell what the future holds for the Bitcoin price….