Bitcoin Retail Interest Shrinking – Is $BTC Too High for Profits? Top Presales to Buy Instead
The post Bitcoin Retail Interest Shrinking – Is $BTC Too High for Profits? Top Presales to Buy Instead appeared on BitcoinEthereumNews.com.
Bitcoin has well and truly exceeded expectations this week, continually hitting fresh all-time highs. Most recently, it reached $119,379K just a few hours ago. However, one particularly interesting data point suggests that Bitcoin’s current rally may be driven almost entirely by institutional players, with retail investors largely sitting it out – likely believing that $BTC has already gone too far for any meaningful profits to be made. Keep reading to find out just how much merit there is to this trend, what it means for Bitcoin, and how you can fully capitalize on the digital gold’s momentum by buying the best crypto presales. Lack of Google Search Interest in “Bitcoin” “Bitcoin is at new all-time highs but retail is almost nowhere to be found,” says André Dragosch, Bitwise Head of Research, pointing to the thinning interest in the keyword “Bitcoin” on Google search. Although “Bitcoin” saw a healthy 8% increase in search interest on Google this week (July 6 – July 12) compared to the previous week (June 29 – July 5), total Bitcoin search interest is still a whopping 60% lower than during the week of November 10 – November 16, which followed Donald Trump’s election victory and a massive Bitcoin rally that took it to the magic $100K level. Some Bitcoin analysts, like Lindsay Stamp, believe this is likely due to retail investors feeling they’ve already missed the Bitcoin boat. After all, one $BTC is currently priced at around $120K, which likely leaves many retailers wondering if and when there are still profits to be made in this rally. That said, it’s worth noting that assets under management (AUM) in spot Bitcoin ETFs have been seeing record growth, with total inflows hitting $2.72B this week, according to Farside. If – and it’s entirely possible – the holders of…
