As of the week of 11/25, views on YouTube related to cryptocurrency reached 4.72 million in a single week, setting a new one-year high. This situation may indicate that retail interest in cryptocurrency is gradually recovering, which also shows that the potential growth space for retail in the market is expanding.
Coin Bureau and Crypto Banter lead the viewing trend
The two major channels, Coin Bureau and Crypto Banter, serve as representatives of this sector, contributing over 1 million views weekly, making a significant contribution to overall indicators. However, the current 4.72 million views only reach half of the historical peak of 9.3 million, indicating that the retail market is still in the early recovery stage.
Multiple indicators of retail participation
The growth of cryptocurrency-related content seems to be positively correlated with the sentiment of retail market participation. For example, applications like Phantom Wallet and Coinbase have entered the top 100 in the App Store, indicating that new retail investors are entering the market and their numbers are increasing. Additionally, Bitcoin breaking the $100,000 mark today (12/5) may further attract the attention of retail investors.
Are retail investors starting to FOMO? How can these indicators be interpreted?
Although the increase in YouTube views is a noteworthy phenomenon, caution is required in interpretation, considering several factors:
Past cycles indicate that the level of engagement on social media could be a lagging indicator of market interest, meaning that people start watching cryptocurrency-related videos only after seeing market enthusiasm. Therefore, it cannot be concluded that retail investors have returned to the market, thereby driving market prices up. The current view count is at 50% of the historical peak, indicating that retail participation willingness has not fully returned to the previous frenzy. Retail investors may be gradually returning rather than surging suddenly.
This article reports that YouTube cryptocurrency video views have reached a one-year high, suggesting the emergence of a retail FOMO indicator? Originally appeared in Chain News ABMedia.