But that’s the wrong question to be asking, advisers say. You shouldn’t be making an investment based on the best time to get in, but rather on the timeframe you have for your needs and goals.

“Is this long-term money?” asks Filip Telibasa, owner of Benzina Wealth in Sarasota, Florida. “Or do we need it to buy anything in the short term? If the answer to that second question is yes, then we don’t want to invest in Bitcoin or any of the other cryptocurrencies just because of how volatile they are.”

But don’t count him — or many other conventional financial advisers — as a crypto teetotaler. Telibasa sees a world where 5-10% of a portfolio allocated to crypto could make sense if the investor has a long time horizon, high enough risk tolerance and the wherewithal to see the investment lose a lot of value, at least temporarily, in a downturn. Remember, before this latest surge, Bitcoin plummeted from around $60,000 in 2021 to around $16,500 in 2022.