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Latest Analyses(6)

Bitcoin Social Interest: Dozens of us Left
Benjamin Cowen|23. Juli

Bitcoin Social Interest: Dozens of us Left

Summary: Bitcoin Social Interest – 'Dozens of us Left'

This video analyzes the extremely low social interest in Bitcoin and the crypto market, reflecting widespread apathy. Despite Bitcoin trading around $64,000, new participants are scarce. The speaker compares current data with previous cycles (2018, 2021) and explains the implications.

Key Points:

  • Social interest at rock bottom: The social interest index is at 0.25 – half the level of the 2022 bear market (0.5) and equal to 2018 levels.
  • Similarities to 2018: Market structure mirrors 2018: support at $60k (2026) / $6k (2018), February lows retested in June/July, lower highs in May, higher lows in March/April.
  • YouTube views plummeted: Crypto channel views dropped from 3–4 million daily (peak) to 358,000 – a 90% decline.
  • Subscribers and followers shrinking: New YouTube subscribers fell from 50,000–60,000 (2021) to 285; X (Twitter) followers from over 100,000 to 4,000.
  • Google Trends & Wikipedia pages: No significant activity this cycle, unlike 2017 and 2021.
  • Bitcoin dominance rising: Excluding stablecoins, dominance stays high as few altcoins hit new all-time highs. Many are below their 2022 lows.
  • Altcoin rotation failed: The market is too thin for broad rotation into altcoins.
  • Outlook: Social interest may fall further before recovering, possibly by late 2024 or early 2025. The remaining enthusiasts ("Dozens of us") are invited to the first ITC conference in November 2024.

Conclusion:

The crypto market is in a phase of extreme apathy with minimal public attention. Data suggests the current trend will continue until a new cycle begins.

SOURCE