Last week the Google search traffic for “buy bitcoin” was at its lowest level since December of last year. My anecdotal experience is also that way fewer people are talking about it today than they were a couple months ago. And bitcoin’s price has dropped to about half of it’s all time high.
This is a visual representation of “chasing the hype”. Despite the price of bitcoin being WAY UP from where it was a few years ago, many investors have actually LOST money on bitcoin. How is that possible?! All of the money flows in with the hype when the price is near all time highs, the hype dies down, the price drops and all that new money is left with losses, while a select (usually lucky) few got out at the right time.
Bitcoin isn’t the only market that suffers from this. We recently saw it with the ARK ETFs… by the time the hype had built to a feverish pitch and money started flowing in, the price was at an all time high. Now it