GOOGLE: BITCOIN FOMO IS BARELY JUST STARTING DESPITE 130% GAIN

Story by: OSATO AVAN-NOMAYO

GLOBAL BITCOIN INTEREST STILL LOW

Data from Google Trends show that global searches for Bitcoin are barely at the same level they were in May 2017. This trend is despite the fact that BTC is enjoying a bullish revival in 2019, with its price increasing by about 130 percent since the start of the year.

On a short-term basis, Bitcoin interest as displayed by Google searches is actually on the rise. In mid-May 2019, interest in BTC reached a six-month high but has since declined a little bit.

Comparing Bitcoin’s stellar price performance in 2019 and the level of interest in BTC with search trends during the late 2017 peak period, it is reasonable to conclude that FOMO-driven BTC investment hasn’t reached significant levels.

One explanation for this relatively low-interest level might be the aftereffects of the 2018 bear market. Cryptocurrency prices plummeted across the market by more than 80 percent.

From a global point of view, BTC interest might seem muted. However, countries like Brazil, Colombia, Germany, and Argentina are showing significant Bitcoin FOMO.

FUNDAMENTALS POINT TOWARDS LONG-TERM BULLISH PATTERN

The FUD-peddlers have, of course, not ceased to call any BTC breakout as another attempt to lure gullible investors into buying the top. Although, there seems to be graveyard-like silence from the BTC bashers ever since BTC surged past $8,000.