Bitcoin interest at historic lows ... Meanwhile: Whales accumulate diligently!
9/13/2022, 08:08 AM
The interest in Bitcoin has plunged to a two-year low, according to Google Search Trends. This may seem alarming at first glance, but anti-cyclical investors are likely to see this development as a buying opportunity. The fact that other indicators recently generated a fresh buy signal could also encourage risk-averse investors to buy Bitcoin.
The price of Bitcoin hit an all-time high around $69,000 in November 2021. Since the beginning of this year, the crypto key currency has been on a downward trend and corrected to the 2017 all-time high in the psychologically important $20,000 mark. The significant market correction in 2022 also caused investors' interest in buying Bitcoin to wane significantly.
In the past few days, search interest, represented by searches for “bitcoin” and similar terms slipped to a new two-year low. The dwindling interest in buying may seem alarming at first glance, but anti-cyclical investors are likely to see this development as a buying opportunity. The fact that other indicators recently generated a fresh buy signal could also encourage risk-averse investors to buy Bitcoin.
Investors who are considering buying Bitcoin should pay attention to the current market trend and the possibility of a further price decline. However, the long-term outlook for Bitcoin remains positive and the current dip could present a good opportunity to buy Bitcoin at a discount.
The price of Bitcoin hit an all-time high around $69,000 in November 2021. Since the beginning of this year, the crypto key currency has been on a downward trend and corrected to the 2017 all-time high in the psychologically important $20,000 mark. The significant market correction in 2022 also caused investors' interest in buying Bitcoin to wane significantly.
In the past few days, search interest, represented by searches for “bitcoin” and similar terms slipped to a new two-year low. The dwindling interest in buying may seem alarming at first glance, but anti-cyclical investors are likely to see this development as a buying opportunity. The fact that other indicators recently generated a fresh buy signal could also encourage risk-averse investors to buy Bitcoin.
Investors who are considering buying Bitcoin should pay attention to the current market trend and the possibility of a further price decline. However, the long-term outlook for Bitcoin remains positive and the current dip could present a good opportunity to buy Bitcoin at a discount.