Despite reaching a new all-time high of $52,545 this week, the hype surrounding bitcoin seems to be lacking, as shown by the low level of interest on Google Trends. According to global metrics from the past 90 days, the search term “bitcoin” only has a score of 36 out of 100, a significant decrease from when bitcoin first surpassed the $50K mark. This suggests that the general public may not be as intrigued by bitcoin’s recent surge as they were in the past.
However, it’s important to note that Google Trends only measures search interest, and does not necessarily reflect overall sentiment towards bitcoin. In fact, there are several factors that could be contributing to the subdued interest in bitcoin at the moment.
One possible explanation is that the recent surge in value may have already been anticipated by many investors, leading to a lack of excitement or urgency to research the topic further. Additionally, the ongoing COVID-19 pandemic and its impact on the global economy may be diverting attention away from bitcoin.
Despite the current low level of interest, it’s worth noting that bitcoin’s value has been steadily increasing over the past few months, with some experts predicting it to reach even higher levels in the near future. This could be attributed to several factors, such as increased institutional adoption and the growing acceptance of bitcoin as a legitimate form of currency.
Furthermore, the recent announcement by Tesla that it has invested $1.5 billion in bitcoin and plans to accept it as a form of payment in the future has also sparked renewed interest in the cryptocurrency.
In conclusion, while Google Trends may indicate a lack of interest in bitcoin at the moment, it’s important to consider other factors that could be influencing this trend. With the cryptocurrency market constantly evolving, it’s difficult to predict the future of bitcoin, but many experts remain bullish on its potential for growth. Only time will tell if the current subdued fascination with bitcoin will continue or if it will once again capture the attention of the masses.
Source:
– Bitcoin.com. Read More