Cryptocurrency analysis company Alphractal reported that although the Bitcoin price has been hovering above $100,000 recently, there are some shortcomings compared to previous bulls.
According to data released by Alphractal, the search volume for Bitcoin on Google is decreasing and is far from the peaks seen in 2017 and 2021.
According to the analysis company, the reasons for this data indicating that the public interest in Bitcoin is still weak may be as follows:
- The current cryptocurrency cycle may still not have captured the public’s attention.
- People may not be searching Google for BTC ($102,240.11) anymore because they already know about Bitcoin.
- Additionally, the market focus may be shifting towards artificial intelligence (AI) or other new cryptocurrency trends.
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When we examine Google data, we see that the highest interest in Bitcoin searches so far was during the bull period observed at the end of 2017. When we evaluate the interest level at that time as 100, the current interest is around 30.
At the time of writing, the BTC price is trading at around $101,000.
*This is not investment advice.
Continue Reading: Something’s Wrong with Google Searches for Bitcoin: Little Interest Compared to Previous Bulls – Analytics Company Explains Why
