The mood is better than during the record high in 2021. This is shown by two surveys of young and institutional investors.
In 2017, the bitcoin price had increased twentyfold to almost $20,000. When it plummeted to under $4,000 the following year, many critics who had warned of a bubble similar to the “Tulip Bubble” of 17th-century Holland felt vindicated. Bitcoin bounced back to retest $4,000 at the height of the coronavirus scare in March 2020. Even then, many predicted the death of the oldest cryptocurrency and the entire sector.
Bitcoin rallied again, hitting a record high of $68,000 in November 2021. Then interest rate hikes, the Ukraine war and recession fears led investors to part with risky assets – and cryptocurrencies are also seen as such. Most recently, a bitcoin unit cost $21,000.