Crypto Craze Investors are returning
The cryptocurrencies market has been extremely healthy this month and the $400 billion total market cap has been hit for the first time in 6 weeks. And if you look at the extreme jumps in value you’d think the interest in cryptocurrencies is coming back. But this time it is very different…
Google trends
Back in and around January when the big Bitcoin craze happened there was a clear jump in the search trends concerning everything in cryptocurrencies.
In the period starting around November 2018 a lot of people where introduced to the cryptocurrency world. These new people started to google for all terms surrounding cryptocurrencies like: Crypto, Bitcoin, Binance etc. to familiarize themselves with cryptocurrencies. All these crypto related terms have very similar google trend search graphs. For example Ethereum & Tron:
With this large amount of new people that came and familiarized them self with the industry came a lot of new investors interested in the profit making possibilities of Bitcoin etc.
Where we are now:
Now that the total market cap has been growing rapidly from $255 Billion on April 9th to $405 Billion on April 25th which is an increase of 58% in 16 days.
The google searches for crypto related subjects has just been going lower and lower.
A big part of this could be that all the people who have invested during the big crypto craze in are now returning and investing. They have learned they around these areas and don’t have to google for bitcoin. They know where to buy cryptocurrencies and can easily go to the website directly. They follow people on twitter and go directly to coinmarketcap for statistics. It is very likely that our crypto craze investors from around January are back. The only question is how far up will they take the total market cap this time and how can we use this to our advantage?
This is not investment advice just my personal analysis. Always be careful what you invest in.
