Google Trends Data Shows Retail Investor Indifference To Bitcoin Rise
Over the past month, bitcoin has grown in price by 50% and today has reached local maximum at mark $ 15,971, up which he couldn’t get up with time bull market in late 2017 – early 2018. Some observers suggest growth is driven by retail investors’ FOMO, but Google data does not confirm this version.
User interest in Russia in less than seven days ending in 7 November, estimated at 12 points. For for comparison, in August the value rose to 13 points, in March against the background of the collapse of markets – to 20, and in June last year, when was the local maximum was fixed slightly below $ 14,000 – up to 24. More Total bitcoin is now interested in Chechnya, reports Google.
The calculation is made relative to the peak of December 2017 of the year, when users Google really actively tried to find information about bitcoin. Such the same the situation is observed in the world as a whole.
Thus, Google data suggests Tom, what’s new retail investors not yet hurry carry their money into the bitcoin market and do not pay attention to him the last movement. However, the growth in the number of requests is also not always ends increased purchasing pressure as users may just curious.
On the other hand, the available data indicate an increased activity major players. For example, recently on market Bitcoin Chicago Mercantile Futures exchange (CME) for the first time recorded the number of institutions to be reported above 100.