Bitcoin’s price has been on the run for the past several months, having surged from under $20,000 to over $50,000 since June 2023.
While that was mainly driven by the anticipation and the subsequent approval of nearly a dozen spot Bitcoin ETFs in the States, it seems retail traders are still not present, which begs the question of whether their arrival could propel another price surge for the asset in the next few months.
How Did We Get Here?
Data from Google Trends shows the typical behavior of retail investors, as they tend to search more for investment options that are very hot. This leads to them entering the market in question in what has been termed as FOMO (fear of missing out).
The cryptocurrency market is perhaps best known for such sentiment changes as it tends to get overheated really quickly when the demand from such investors skyrockets. In turn, this leads to growing prices before the inevitable correction and the market cooling off.
The last such cycle was in 2021, whe
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