Bitcoin’s Value Not Expected to Change Substantially Unless Google Trends Graph Begins to Reverse
As all of our readers probably know by now, mainstream curiosity regarding Bitcoin has waned quite significantly over the past 12-14 months. This has happened because the premier asset has lost over 80% of its value since hitting its all-time high of USD $20K (during Dec-2017).
To put things into perspective, we can see that search hits (on Google Trends) in relation to terms such as ’Bitcoin’, ‘Cryptocurrency’ have dropped by 36% and 29% — when compared to what they were back in March last year.
Graph Showing Consumer Interest in Bitcoin Over the Course of the Past Year
More On The Matter
As can be observed from the graph above, Bitcoin’s early-2018 price spike resulted in the flagship currency garnering a lot of mainstream publicity. In this regard, Bitcoin proponent and well known crypto analyst Andreas Antonopoulos noted that the sudden spikes of interest in bitcoin from late 2017 and early 2018 created conditions which are now forcing the currency to be faced with immense bearish pressure— since the market at large is still unsure of how the future of Bitcoin will play out.
However, as independent devs and entrepreneurs continue to devise technologies, platforms, and businesses using the BTC ecosystem, the alt-asset will continue to see its value increase as we move deeper into 2019.
At press time, Bitcoin’s price seems to be heading in a direction of stability. This is because a whole host of institutional investors have recently started to pump in big money into the premier altcoin. However, for Bitcoin to make a financial run that is similar to what was seen in 2017, the masses will have to start entering this burgeoning space soon.