Google searches measured the statistics of Bitcoin price growth and people’s interest in it and there’s a big difference between them. Not so long ago, the level of correlation between the price and interest was really high.
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There may be some reasons for these new statistics:
- Everyone who wants to be involved in the theme already knows about Bitcoin.
- Bitcoin price swings are too wild for investors and they don’t pay attention to it.
- Bitcoin became dominated by players outside the US.
- Institutions are getting Bitcoins and there are less large investors to manipulate the price.
We can certainly say, which one of these suggestions is right and which is not, but it feels like we are at some stress point again. If we escape from these high prices, the naysayers will be able to demonstrate that once again, bitcoin has established too volatile and sensitive to short-term prices that don't reflect long-term value.
If Bitcoin stays at these levels, or get further progress, it seems hard to believe that more investors won't start dabbling.