Cryptocurrency analytics firm MarktQuant analyzed Google Trends data for the search term "cheap crypto" and found a historical correlation between increases in this search term and market peaks during previous bull runs. This suggests that increased interest from retail investors often coincides with market exhaustion. However, the firm acknowledges that the increasing popularity of cryptocurrencies has naturally raised the baseline level of searches for "cheap crypto," making it difficult to interpret spikes as a clear indication of an impending market top. Despite the increasing search volume, MarktQuant remains optimistic about the early stage of the current market cycle and concludes that a market top does not appear imminent based on this specific metric alone. However, the firm advises considering other market indicators for a comprehensive analysis.
- Content Editor ( en.bitcoinsistemi.com )
- 2024-10-14
Analysis Company Announces: This Search Term on Google Detects Cryptocurrency Bulls – What’s the Current Situation?