Are Ordinary People Being Left Out Of The Bitcoin Revolution?
Data suggests the latest bull run is being driven by those with deep pockets.
Bitcoin has made a lot of people wealthier over the last several years and continues to do so today. In the last year alone the price of Bitcoin has surged by 300%. But unlike in 2017 at the last peak, it looks like ordinary individuals are missing out on the potential life-changing gains.
Google trends show that searches for Bitcoin-related terms peaked in 2017 around the time of the last major bull run when the price peaked just under $20k per Bitcoin.
Yet looking at the trends now at a time when Bitcoin has surpassed its all-time high and gone up as far as $28k per unit, it shows that retail interest in Bitcoin is still relatively tame and nowhere near it was in 2017.
Furthermore, data from Glassnode suggests the number of digital wallets with more than 1,000 Bitcoin in them is now at a record high of 2,226 at the time of writing. This is a significant increase on the previous record peak of 1969 reached in 2016. 1,000 Bitcoin in the current environment of around $28k…
