Bitcoin Search Volume Hits New Yearly Low

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As a seasoned crypto investor with a decade of experience under my belt, I must admit that watching Bitcoin’s current sideways dance is reminiscent of an old-school disco track that refuses to move from its one-note loop. While the halving event in April certainly stirred up some excitement, it seems we’ve been stuck in a rut ever since.

As reported by CryptoQuant CEO Ki Young Ju, the number of Google searches for Bitcoin has recently reached a new annual minimum.

According to U.Today’s report, the top cryptocurrency appears set to log its longest stretch of horizontal price movement during a halving cycle this year.

Following its peak at around $74,000 in March, Bitcoin hasn’t yet managed to mount another substantial surge.

In April, the Bitcoin halving event generated significant curiosity, exceeding the past highest level of searches for this topic, which was observed in May 2020. However, since then, there hasn’t been a substantial trigger or factor that could reignite this level of search interest in Bitcoin.

Bitcoin has gone through periods of significant price fluctuations, dropping under $51,000 mark in early August. Yet, it hasn’t quite managed to spark broad interest among the general population as yet.

In simpler terms, DonAlt, a well-known pseudonymous trader in the cryptocurrency world, has expressed his belief that Bitcoin, currently the top digital currency by market value, may be able to move beyond its current fluctuation pattern if it manages to reach the critical $65,000 price point.

For now, the price of the leading cryptocurrency is down just 15% from its record high.

Currently, it’s anticipated that the search interest for meme-based cryptocurrencies will hit an all-time peak this week. At present, this vibrant corner of the crypto market seems to be drawing a lot of attention. Despite the fact that many major meme coins have dropped significantly from their previous highs, there are still some fresh entrants that continue to stir excitement.

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2024-10-13 14:33