Is Bitcoin a Buy Near Its All-Time High? – Motley Fool

Is Bitcoin a Buy Near Its All-Time High? – Motley Fool

While the U.S. stock market teeter-totters on the cusp of an all-time high, the cryptocurrency market is erupting

In less than a month, Bitcoin‘s (CRYPTO:BTC) price has increased by over $25,000, marking the fastest nominal price rise in Bitcoin’s history and an over 50% gain since late September. Bitcoin officially reached $66,930.39 on the afternoon of Oct. 20, its highest price ever. 

At first glance, it’s easy to say that Bitcoin is expensive because it’s a higher price now than just a few weeks ago. But there’s reason to believe it’s still cheap. When Bitcoin topped $40,000 to mark a new high last spring, it was actually a great time to buy. And when Bitcoin rebounded back to $50,000 off its summer lows, it was yet another great time to buy.

So, what’s going on? Why does Bitcoin keep finding a way to go up? This article will help answer those questions, and ultimately help you figure out if buying Bitcoin, albeit at a higher price, is the right decision for you.

An oil pumpjack superimposed on a computer chip.

Image source: Getty Images.

Decreased regulatory uncertainty

One of the big reasons Bitcoin and other cryptocurrencies have come