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This morning I decided to see how interested the general public is in the term "crypto" by using the trusty Google Trends tool.
And it left me feeling a bit strange.
Let me break it down for you.
We all know that when Bitcoin hits all-time highs, the media starts buzzing.
If you look closely, we've seen evidence of this recently, like Drake sharing a clip of Michael Saylor on CNBC and Donald Trump stating that Bitcoin is "an additional form of currency with a lot of use", just to name a couple.
The whole ETF situation has also played a role in this, making sure the buzz reaches major media outlets.
These are like big magnets for the general public.
But the vibe in the crypto market seems off to me, at least personally.
The hype we experienced in 2017 and 2021 was way more intense compared to what we're seeing now, with people going crazy over ICOs or chasing after useless NFTs, all driven by greed.
You might be thinking: "Hey, we're nowhere near the peak levels of 2017/21" and that's true.
But at the same time, Bitcoin keeps hitting new all-time highs every day and it seems like people aren't really paying much attention.
I don’t know if it's because they're still traumatized by the 2022 crash and lost a lot of money, but that's the vibe I'm getting.
With that being said, the current level of interest is definitely not dead, as shown by the increase in crypto/finance-related app usage and the messages from non-crypto friends that I'm sure you've been receiving.
So we need to keep our eyes peeled to understand the true nature of the market.
But maybe (and this is just my personal theory) crypto needs to go through some major craziness before the masses jump back in.
Because many folks who got burned in 2022 might have sworn off crypto for good.
#CryptoBulls #BullRun🐂 #TrendingTopic: #HotTrends