Bitcoin is up and the zealots are back

Don’t miss out on today’s Morning Brief, which is sent to your inbox every morning. The price of Bitcoin has surged to over $42,000 and has increased by over 150% this year. The crypto media characters are back as a result of this price recovery, with the “shills” and “opportunists” promoting Bitcoin as the future of finance. Despite the collapse of the Terra stablecoin and the implosion of FTX, these voices are still maintaining that Bitcoin is the answer to getting rich and solving financial woes. Retail investors may get caught up in the hype again. Robinhood reported a 75% surge in its November crypto trading volumes. However, skeptics are warning against buying into Bitcoin as if it is a religious belief, while others see potential in the significant market expansion that could result from the approval of a Bitcoin ETF.

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