Reports are showing that people are showing less interest in Bitcoin and crypto over the mid of last year, among US citizens.
Crypto adoption among experienced and old crypto investors is increasing rapidly, in terms of relatives and family members because of better suggestions and advice. But research is hinting that the majority of the crypto investors, which entered the crypto market in last year’s bull run, are now getting out or have very little interest.
A report based on the Google trend data, taken between May of last year to Feb of this year, is showing that people are now less interested to talk or know about cryptocurrencies.
Google trend is showing that “Cryptocurrencies” word’s search frequency degree is below 25 out of 100 after May of last year.
This data is giving a hint that interest is getting down rapidly and it may be because of the less expectation from this market for this year because of last year’s bull run.
However, reasons may be anything but one of the reasons may be the Fed Res hike, where people are now thinking to go with savings of money in the Bank instead of crypto assets.
However the first hike in the interest rate by Federal Reserve occurred with the significant correction in the crypto & stock market for first time but the latest Interest hike announcement resulted in a positive result for this market, where the market is continuously moving toward rapid recovery from its last correction, which took place in late February because of Russia Vs Ukraine war.
At present, the price of Bitcoin is $46,870 and this price is 4.98% high over the last 24 hours but it is 20% high over the last 30 days, which is a significa recovery and also it is the highest recovery in the price of Bitcoin over the last 3 months.
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