Bitcoin (BTC) is up 30% in a week and surpassed $ 23,777 on December 16, but as the data shows, no one else in the world knows yet.
According to charts that track public awareness of what Bitcoin has done recently, interest is still a small fraction of what it was during full employment exactly three years ago in 2017.
Twitter sleeps on BTC outside “ST”
Anyone who reads crypto Twitter, also known as CT, can give the impression that the entire social network is all about Bitcoin price dynamics in 2020.
This is not the case, however, as statistics show that unlike CT, Bitcoin’s highs and lows this year are not a trend.
The status quo is just beginning to change, but tweet levels are about the same as in January 2018, after bitcoin fell just under $ 20,000, according to analyst resource TheTIE.
While Twitter activity roughly matches price action, Twitter activity indicates a strange reversal of emotions when it comes to Bitcoin and the mainstream. Consumers who see headlines about price bubbles and criminal intrigue seem to have given up cryptocurrencies altogether – aside from a bizarre and unexpected ad campaign.
Wikipedia shows no desire to learn about bitcoin
The theory is correct when you look at the popularity of Bitcoin on Wikipedia. December 2020 page views are just a small increase in flat terrain.
Compared to January 2018, there is no competition – the desire to know what Bitcoin is is much higher than today.
Interestingly, even the Covid-19 crisis and its impact on markets in March, coupled with Bitcoin’s record recovery to an all-time high, failed to attract the attention of the majority.
Few people use Google Bitcoin
Finally, the global goal of what internet users are looking for confirms how little bitcoin is now – and the potential for transformation.
According to Google Trends, in this perhaps the most astonishing chart, the term bitcoin is less popular this week than it was earlier in December or even November.
Even a blockchain cut in half in May turned out to be more common than a price hike this week, which in turn indicates that people who generally tend to google about bitcoins actually have some interest in cryptocurrencies in general. Average consumers have no incentive to share – or so they think so.
Interest in a Google search for the 12 month chart “Bitcoin”. Source: Google Trends.
All the evidence points to the fact that Bitcoin, despite the fact that it has a different origin than three years ago, has not yet touched ordinary consciousness. However, institutions are already at the forefront of the game.
Commenting on the phenomenon, the popular Twitter account Polkadot Brown said that his personal contacts are ready to buy – paradoxically – when BTC / USD is reaching constant highs.
He wrote, “This is the mindset of most individual investors.”
“Currently institutions are falling in the fall to get rid of X2. The next bear market won’t happen until we hit $ 50,000 in bitcoin. “