Data from Twitter and Google Trends show that investors’ willingness to invest in digital currencies has reached 2017 levels.
To Report Crypto-briefing, evidence from analytical benchmarks, shows that bitcoin micro-investors are now more interested in these assets and other digital currencies than ever before.
Twitter social network data show that the number of responses containing the word “bitcoin” has even exceeded the 2017 figures. In recent months, the hashtag Bitcoin has been trended several times on several social networks, including Twitter.
Research by The TIE Analytical Institute shows that over the past seven days, the average number of tweets containing the word bitcoin has reached the high levels we saw earlier in December 2017. In addition, the number of users tweeting about Bitcoin has surpassed all previous records.
The number of bitcoin keyword searches on Google indicates a similar phenomenon. Google Trends data show that the search volume for Bitcoin has reached the highest level in the last three years and is in the second place after the record recorded in December 2017.
Evidence shows that the investments of large-grain investors have played a significant role in the recent rapid growth of bitcoin. However, the growth of Altcoins also indicates that small investors are still interested in these assets.
“Michael Bucella, an activist at BlockTower Capital, told CNBC:”
Undoubtedly, the market data show a significant increase in the participation of small investors, which can be seen in the increase in the price of coins.
In the last two weeks since December 28, the market value of Altcoins has increased by $ 150 billion (72%).
Another criterion that should not be overlooked is the sudden increase in the volume of digital currency transactions, which indicates the widespread presence of small investors in the market. Data from the CryptoComparison Institute show that instant trading volume in digital currency exchanges increased by 30% to $ 1.18 trillion.
In addition, derivatives trading volumes have reached new historical highs, crossing the $ 1.4 trillion mark in the past two weeks.
Another piece of evidence that can be attributed to the prevailing fear of falling (FOMO) among small investors is the increase in trading volume in the itBit exchange. The exchange is a partner of PayPal, the payment giant.
Yesterday, the trading platform saw a new record in its daily trading volume and its users traded more than $ 240 million in digital currency. Yesterday, however, the price of Bitcoin fell by 20%, even to the bottom of $ 30,000.