Bitcoin Searches Soar

Bitcoin Searches Soar, Will Discounted Prices Lure New Investors?

Bitcoin Searches Soar

The current state of crypto is being called by many the worst it has ever been. While the Terra blockchain death in the summer made headlines, the FTX blockchain death this month has once again highlighted the importance of cold storage. At the same time, the value of Bitcoin (BTC), the first cryptocurrency, hit a low not seen in two years. The incredible bull run of 2021 has nearly wiped out any and all gains made. Investor confidence is back to pre-2021 levels. Despite the severe drop in Bitcoin (BTC) price, there is one indicator that is trending up. Bitcoin searches soar on Google Trends, showing a meteoric rise in interest in Bitcoin, according to IntoTheBlock.

Source: IntoTheBlock

Now, people could be looking for any number of things, and their interest could indicate the entry of new investors into the market. It has always worked out well for the pioneering crypto when interest suddenly surged. Most people wished they had bought BTC when it was cheaper, when its value was at its highest. To put it simply, that time is now. Bitcoin has dropped to its lowest price in months, making it attractive to a large number of potential buyers.

When will retail investors sell their Bitcoin?

Morgan Stanley analysts, on the other hand, predict that when Bitcoin reaches $10,000, retail investors will start unloading their holdings. The financial behemoth reportedly saw selling from institutional investors while retail investors kept their BTC. But if the value of the original crypto keeps falling, that might change.

Creditors selling digital assets to offset their risks are increasing market volatility, and they will likely reveal their positions in the coming weeks. The Morgan Stanley paper claims that the limited impact on equity markets is due to the fact that crypto businesses primarily lend to one another.

BTC had a price of $16,775.98 at the time of this writing, an increase of 0.6% in the last 24 hours. In addition, since its all-time high of $69,044.77 in November of 2021, the token has dropped 75.7%.


Disclaimer: This isn’t financial advice; it’s just for education. Crypted Crypto can’t guarantee its accuracy. Every investment and trade carries some risk, so always do your own research. Invest only what you can afford to lose.







Leave a Reply

Your email address will not be published. Required fields are marked *