Why peoples interest on Bitcoin is declining?

in #bitcoin7 years ago (edited)

2018-03-12 17.19.08.png

Google trends shows that peoples interest on Bitcoin is decreasing with the decreasing in price of Bitcoin since Mid February.

The price of Bitcoin was at the most lower point $ 6048.26 on February 6, 2018 after is all time high $ 20,089 on December 17, 2017.
2018-03-12 17.50.56.png
2018-03-12 17.51.40.png

According to Google trends peoples interest on "Bitcoin" was most popular till Mid February.

According to news, former Mt. Gox trustee had sold $400 million worth of Bitcoin(BTC) from December till February and other large sell off of BTC are connected with this which might have resulted in the Market crash.

In addition to this, other various kinds of FUD such as banning of Cryptocurrency in some countries, legal issue with crypto, media's negative FUD also results in the severe decrease in the BTC price.

However I think this kinds of FUD and legal issue are always there from the very beginning of development and implemention of Blockchain technology and it is just a Market cycle.
But it has always been seen that after severe market crash, even more confident came in the market than before.
2018-03-12 17.53.57.png

Now let's hope Bitcoin have already tests its bottom with this crash and it is ready for the next bull run.

Sort:  

For future viewers: price of bitcoin at the moment of posting is 9780.00USD

Coin Marketplace

STEEM 0.25
TRX 0.20
JST 0.038
BTC 94908.01
ETH 3553.53
USDT 1.00
SBD 3.80