Why doesn't the public care much even though Bitcoin is close to $100,000?
Why isn't there as much interest as before, even though Bitcoin's price has hit $100,000, a level that was previously unthinkable? Here's the data.
Cryptocurrency Not as Hot as 2017 and 2021: What's Holding It Back?
Although Bitcoin and cryptocurrencies are slowly regaining momentum, public interest has yet to reach the peaks seen during the booms of 2017 and 2021 , according to a new report from research firm Alphractal .
Data Proves Cooling Interest
The report shows that, despite increased awareness of cryptocurrencies, the public has yet to return to the excitement it once had. Some key data:
Google Searches : Search volume for keywords like “Bitcoin” and “Crypto” is up slightly but still significantly lower than its peak.
Wikipedia Views : The number of people visiting articles related to Bitcoin and its founder Satoshi Nakamoto increased slightly compared to the previous period.
Interaction on Reddit and 4chan : Forums that were the starting point of previous crypto crazes are now quieter than ever.
Reasons Why It Has Not Re-Exploded
According to Alphractal , the current market has distinct characteristics that dampen public enthusiasm:
Mature Market : Cryptocurrencies are no longer the new phenomenon they were in 2017, when millions of people first came into contact with Bitcoin.
Global economic situation : Previous booms were often accompanied by favorable economic conditions, such as high liquidity during the COVID-19 pandemic. Currently, tight monetary policy and economic uncertainty are holding back investment flows into risky assets.
Does the Market Need a New Catalyst?
While Bitcoin price could hit the $100,000 mark , the report questions whether that would be enough to spark strong public enthusiasm.
“The market has matured and needs a real boost to revive enthusiasm,” the report stressed.
What new technologies, disruptive policies, or unexpected events will be the key to the next boom? The answer remains to be seen.