Should You Buy Bitcoin Right Now? Buy, but Don’t Sell

Another week, another high. Bitcoin’s price is surging and hit its all time high, as the year comes to a close. Looking at all of 2020, it’s been surging all year long. The largest digital currency is up 160% since January 2020, and up 190% since March 15, after a nose dive in the second week of March, when the price dropped 25%. As I write this post, bitcoin’s price is hovering around $18.5k and it’s market cap is at $343 billion. Thirteen hundred bucks… not that far from its all-time-high of around $19,800 at the end of December 2017.

Three years ago, the press had a feeding frenzy and bitcoin’s price was the topic of conversation around Thanksgiving dinner tables. People that had just heard of bitcoin, were getting into the market to make a quick buck, buying bitcoin, ethereum and anything they could get their hands on, only to lose their shirts when prices started to drop after mid January 2018.

This time around things are very different. On the surface they look the same, I mean the price is rising. But the reasons the price is rising are definitely not the same. Google search terms suggest that the retail investors aren’t paying much attention now. In 2017, there was a buying hysteria driven by retail investors. Bitcoin searches on Google exploded and the price followed the same trend. Today, Google searches are 86% lower…