Are We Really Doing the Bitcoin Hype Cycle Again?

Bitcoin is trading at over $51,500, its highest price since 2021.
The SEC’s approval of spot Bitcoin ETFs has investors excited.
The market cap for all cryptocurrencies has exceeded $2 trillion.
The last time the crypto market was this hot was in late 2021, when Bitcoin reached an all-time high of $69,000.
Crypto’s “fear and greed index,” maintained by Alternative.me, has reached its highest “greed” level since November 2021.
Peter Thiel’s Founders Fund reportedly bought $200 million worth of crypto starting last summer.
The article warns that crypto is a Ponzi scheme and advises not to invest any money one can’t afford to lose.
It also mentions the conviction of Sam Bankman-Fried, the head of the collapsed crypto company FTX, on seven counts of fraud and conspiracy.