Google searches for Bitcoin are at their lowest level since 2020 due to the lack of major price movements in Bitcoin.
Fear and Greed index of BTC after falling below $40000, it is still at the point of concern, although it recovers in 2 days.
Lack of Retail Interest
Yesterday the latest surge in whale activity for the primary cryptocurrency. According to data from Google Trends, demand from retail investors appears to have dropped over the past few months.
The number of searches on Google typically shows the market capturing behavior of small investors caught in the middle of bull conditions. An example of this situation is that at the end of 2017, BTC’s then ATH rose to the level of $20,000.
When we entered the asset year-long bear market, the google searches disappeared. In last year’s price increases, BTC was in April and
A similar thing happened in November when it went down and reached $69,000.
However, the cryptocurrency has started to pull back once again, dropping close to 50% in about six months. Data from Google Trends now shows searches for “Bitcoin” are declining, falling to the lowest levels last seen in December 2020.
Fear Is Back Among Bitcoin Investors
Bitcoin Fear and Greed Index, price volatility, surveys, BTC dominance, trading volume, social media interactions, etc. It estimates the overall sentiment within the cryptocurrency community by examining various factors such as.
Results are shown on a 0-100 basis; where zero represents “extreme fear” and 100 represents “extreme greed”.
In late March, BTC went into extreme greed for the first time since November as it made its way towards $50,000. However, as BTC began to cool down and fell below $40,000 in April, the Index fell into extreme fear.
Today only shows fear as bitcoin managed to correct Monday and its January 2021 ATH touched $42,000.