Google search i Bitcoin keyword have crashed, indicating a lack of interest among internet users in the top crypto. However, crypto analyst Ali Martinez he said this is bullish for the price of Bitcoin.
Why Bitcoin Crash Google Search Is Bullish
In the X post, Martinez revealed that no one is looking for him Bitcoin (BTC) in accordance with Google’s policies. He added that this is bullish, which means that this is a good thing for the price of BTC. In general, an increase in BTC keyword searches indicates greater interest among retail investors.
However, the lack of interest based on Google trends shows that retail investors have not yet arrived in large numbers in the crypto space this bull is running. Therefore, it is bullish, as there is still more room for Bitcoin and other cryptocurrencies to go higher following the influx of these retail investors.
I on-chain analytics platform Santiment and provide insight into why the lack of interest in Bitcoin is often bullish. They suggested that the flagship crypto will probably come new all time high (ATH) where expectations are low, or there is a lack of interest among crypto enthusiasts.
The platform revealed that there are currently 1.8 bullish gaps towards BTC for every bearish post. According to Santiment, the market historically moves against the expectations of the crowd. This means that Bitcoin becomes more bullish when market participants and non-crypto natives are bullish.
Santiment confirmed this situation in a recent X post. The platform revealed that the crowd sentiment towards Bitcoin was very strong, indicating the high potential of the crypto markets. With BTC pulls back below $65,000 on September 30, they expect there to be some sales. Santiment added that if FOMO turns to FUD, the bull market will quickly resume.
How BTC Price May Move in the Coming Weeks
Martinez also provided details on what to expect from the The price of Bitcoin in the coming weeks. He said the best thing is that the crypto-flagship went down to $60,000, back to $66,000, back to $57,000, and finally broke. new ATH for $78,000.
The analyst also referred to this price thesis in a recent X post, suggesting that he is confident that this will happen. However, historical trends indicate that BTC can reach a new ATH this month. October is one of the best months for Bitcoin, with double-digit monthly returns for the cryptocurrency most of the time. Therefore, crypto can reach new heights as ‘Uptober’ rally it starts.
At the time of writing, Bitcoin is trading at around $63,800, down from 24 hours ago, according to data from CoinMarketCap.
The featured image was created with Dall.E, a chart from Tradingview.com