In the very beginning of 2018 BTC prices soared above $17,000. Today BTC trades at only $7,706.43 and some expert believe the price will continue to go down, as Google reports that bitcoin searches are down 75 % from the previous year. Could it be that the described situation is actually good for the serious crypto investors?
Google trends service evaluates search interest over time by giving search entries a score between 1 and 100, the higher the number the more interested people are in the subject. At the beginning of the year bitcoin’s popularity score in the U.S. was 37. By summer it fell to just 9. The same situation is apparent around the world, as the measure fell from 44 to 11 in the same timeframe.
For traders hoping to make a quick buck, this is, undoubtedly, bad news. Investors, on the other hand, gain a unique opportunity to buy BTC very cheap. Some experts, however, are of the opinion that Bitcoin needs to do something to “re-establish global attention”, which it enjoyed previously. Others take it with a grain of salt, since Bitcoin has been pronounced dead a hundred times before, but always survived and in the end.