Retail is back in Bitcoin as the number of Bitcoin Tweets hits all time highs

in LeoFinance2 months ago

Institutions got the ball rolling, and now it looks like retail is taking the reigns

One of my favorite metrics telling me that we were no where near a high as the price continued rising over the last several months was the number of google searches and tweets about bitcoin.

They weren't anywhere near the levels seen back in late 2017 which told me retail wasn't in yet, at least not to the levels we saw back then.

Well, that metric is being tested now as we are seeing new all time highs in the number of bitcoin related tweets.

Yesterday saw 66,832 tweets about bitcoin, breaking the previous all time high of 64,652 set on December 17th, 2017:

image.png

(Source:

1345579859188346881/photo/1) twitter metadata:VGhlVElFSU98fGh0dHBzOi8vdHdpdHRlci5jb20vVGhlVElFSU8vc3RhdHVzLzEzNDU1Nzk4NTkxODgzNDY4ODEvcGhvdG8vMSl8 ~~~

This is exactly what we should be seeing right now, even though some think this is a sign of a top.

I disagree and think that we should see even more retail involvement this time around.

It's much easier to buy bitcoin than ever before, by brother in law who never invests ever recently told me how he downloaded the cash app in order to buy some bitcoin.

I think we are going to see retail FOMO a bit higher before this thing topples over.

Even then, after it topples over and consolidates, we are going to surge again in the summer of this year.

Posted Using LeoFinance Beta

Sort:  

Institutions will prevent a big drop like we were used to in the past.

Posted Using LeoFinance Beta

I could see that as well. It's a different class of investor pushing the prices right now. They have them strong hands.

New normal.

Posted Using LeoFinance Beta

Indeed, the whole thing is gaining momentum and while the warm up has been led by financial institutions it's retail that will bring madness on the crypto scene. On top of that I would add that BTC is flying out of exchanges at high rates. I guess mostly Americans are doing that fearing of further government imposed control over their assets.

Posted Using LeoFinance Beta

Congratulations @jondoe! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You have been a buzzy bee and published a post every day of the week

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @hivebuzz:

Feedback from the January 1st Hive Power Up Day
Happy New Year - Project Activity Update