Despite the latest increase, the retail Fomo is still missing from Bitcoin
Despite the latest increase, the retail Fomo is still missing from Bitcoin
Although Bitcoin's price has increased by more than 35 % in the past two weeks, small investors still have to return to the stage. Google trend data show that the number of search queries in the search engine is still far from the previous heights.
No retail hype: Google Trends
On September 30, BTC fell under $ 41,000 for the third time this week. Now, less than two weeks later, btc Business above $ 56,000 after a new five-month high was marked with $ 57,000.
Such impressive price increases in relatively short periods of time typically attract the masses. This does not seem to be the case at the moment, at least according to data from Google Trends.
The number of "Bitcoin" inquiries from the world's largest search engine is still relatively low and has hardly increased since the beginning of October. Compared to the annual highs that were reached in mid-May-shortly after the BTC Prize had reached a maximum of over 65,000 USD. To mention unnecessarily that it will continue to be removed from the all -time high in December 2017.
In addition, the global search for "buy Bitcoin" has also stalled in the past few weeks, which again shows that the appetite of private investors is still not available for cryptocurrency.
This data only confirms earlier reports Price increase is due to institutional investors and not to retail. It also shows the potential increases that could hide behind the corner as soon as smaller investors come back onto the market.
greed came
While the hype around BTC has not yet attracted the attention of private investors, the general feelings towards the asset have come into a "greed" territory after a break of several weeks. This shows the popular Bitcoin-Angst- and Gier-index , which is based on surveys, volume, volume, volume, Social media engagements and more outdated.
The metric also tends to move with the price of BTC. For example, it had fallen into a state of "fear" and even "extreme fear" in September during the decline mentioned above.
The last time that he had reached "greed" levels over 71 was in early September when the asset was traded over $ 50,000. It is worth noting that one of the two extreme ends - fear or greed - usually follows a price adjustment in the opposite direction. Nevertheless, the index still has some scope before seeing "extreme greed".
Kommentare (0)