Not Too Many Retail Investors Are Interested In Bitcoin, Yet
This is the five year chart on Google Trends of the search term "Bitcoin".
As you can seem there has been a slight uptick in searches done with the search term "Bitcoin" in recent months but interest is much less than in 2017.
Smart money including institutional investors are accumulating Bitcoin quietly. The price is creeping up.
What's noticeable about the graph above is how incredibly rapidly interest in BTC appeared and how rapidly it vanished.
Correlation to the price was near perfect during the 2017/2018 bull market top.
The fact that the price is rapidly approaching the previous all-time high but retail interest in BTC is nowhere near the levels seen then tells me a lot of people must have got burned and may swore off Bitcoin and the rest of cryptocurrencies.
People have been querying how high BTC will go during the next bull market top. The estimates I've seen have been rather cautious. $100k is the highest figure I've seen among people who are not familiar with the stock-to-flow model. My guess is that the price will blow past $100k but not more than 2-3x that next year.
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Seeing bitcoin hit $100k potentially as the high figure predicted can be possible just that I don't see it happening soon though
I think there's a good chance it will happen about a year from now. That prediction is based on the Bitcoin mining reward halving cycle.
That will really be great to see happening
I don't know if was first the egg or the chicken. Was first the interest about bitcoin in 2017? Or the interest come when bitcoin reach 20.000$? The thing will be when It reach 20ks again, the interest of course are not going to be so high like this time, We have to wait till 100ks to the interest come again... let's see it. Regards, great post
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I think the price increases and increasing public interest keep feeding each other until the bubble burst at the end of December 2017. It was driven more by retail investors than it will be this time, I think.
retailers will buy 200k