Of all cryptocurrency discussions, one in four is about bitcoin.
According to research platform Santiment, by the beginning of this week, social interest in bitcoin reached its highest level in the past two months, with one in four of all discussions of cryptocurrencies devoted to the oldest digital asset – 26.27 percent, to be exact. This level of interest in the No. 1 cryptocurrency has not been seen since mid-July of last year.
According to Santiment’s analysis, earlier, whenever the share of discussions about bitcoin rose above 20%, it was an indication that the price of this asset stopped declining. And so now there is a growing concern among investors among the discussions that they may miss out on the current opportunity to invest in bitcoins while they are inexpensive.
It also correlates with the fact that an analysis of Google query results shows that the frequency of searches for how to sell bitcoin was at its lowest value this year. At the same time, queries on selling Ethereum . and XRP have shown an increase in the trend since the beginning of this year.
If we talk about the situation in terms of cryptocurrency development, their number in the world even slightly decreased: according to Coinatmradar, on September 27 there are 38609 such machines. As of August 1, there were 38757 crypto machines in 77 countries. Meanwhile, this decline can be explained by the development of platforms with similar financial services in the framework of decentralized finance (DeFi).