Thread by @izzydoesizzy

1/ Interesting observations about cryptos right now that nobody really seems to be talking about:

Cryptos like #bitcoin and #ethereum are getting back up to their peak levels but haven’t quite hit the news cycle again yet.

/short thread

2/ Take a look at the Google Trends results for #Bitcoin, #Ethereum and #Cryptocurrency worldwide in the past 12 months.

You’ll notice that the peak months these terms were being searched was in January 2021 and in May 2021.

3/ The price of Bitcoin hit peaks on

Jan 10 ($40,780)
Feb 21 ($56,619)
Mar 14 ($60,713)
Apr 14 ($63,731 ATH)
May 9 ($58,203)
Sep 3 ($50,820)

On Google Trends the term “Bitcoin” peaked on:

Jan 9 (93%)
Feb 27 (100%)
Apr 24 (69%)
May 22 (100% ATH)

4/ Similar results with Ethereum

The price of Ethereum hit peaks on

Jan 10 ($1,327)
Feb 20 ($2,000)
Mar 14 ($1,897)
Apr 17 ($2,467)
May 12 ($4,298 ATH)

In contrast, on Google Trends the term “Ethereum” hit peaks on

January 9 (58%)
Feb 13 (51%)
May 15 (100% ATH)
Aug 14 (45%)

5/ Today if you look at the value of Bitcoin and Ethereum

#Bitcoin $50,673
is currently on an upward trajectory and is at the same price it was in February and March

#Ethereum $3,971
is also on an upward trajectory and also at the same price as it was in May (near its peak)

6/ Except when you compare those to how often they’re being searched right now, it’s significantly lower than those dates.

Bitcoin, today, is at 80% of its peak price ($50,820 / $63,731)

… but only at 28% of its peak popularity as a search term Google Trends

7/ Ethereum, today, is at 92% of its peak price ($3,972 / $4,298)

… but only at 30% of its peak popularity as a search term Google Trends.

8/ Please take all this information with a grain of salt as I’m not a financial expert but just thought I’d share my observations.

By no means is this financial advice but my thinking is that the media will catch wind of cryptos again and the next spike will come much sooner.