Bitcoin's Resurgence Sparks Zealotry and Hype Amidst Economic Uncertainty

Bitcoin's price surge has brought back the hype and enthusiasm from cryptocurrency enthusiasts and opportunists. The reemergence of "shills" and "pumpers" is fueled by the anticipation of institutional investment in crypto and the potential approval of spot bitcoin ETFs by the SEC. Retail investors are showing renewed interest, as seen in the surge of crypto trading volumes on platforms like Robinhood. While there are rational voices in the crypto space, caution is advised when an asset starts to sound like a religious belief intertwined with profit. However, the potential allocation of trillions of dollars by giant asset managers like BlackRock to Bitcoin ETFs could lead to significant market cap expansion.