Comparing BITCOIN interest data in Google trends and the weekly Bitcoin chart, I am curious to see how the price accompanies the search trends.
In the weekly, it does not seem so obvious but if you increase the magnifying glass towards the past and add more years compared to the monthly price you can see how we are clearly entering the FOMO period of the cycle.
There is no need to be alarmed yet since the public's interest is not mainstream still, I just hope it doesn't happen like in 2018 and we don't reach the level of extreme FOMO that bursts the bubble...
Speaking of "exploding the bubble", in the previous cycle, where we touched ATH on November 8, 2021, there was also a proposal for FUTURES ETFs for BITCOIN that was approved by the SEC a few days before starting to fall sharply...
Probably, we could say that the last bullish wave of the previous cycle was motivated by the prospect of approval of these BTC Futures ETFs...so what happened, supposedly, was a textbook "BUY the Rumor and SELL the News" ...
Also, you can see that the trading volume then was very similar to the current one...rather quite low.
I hope that this time it is different, but just in case, we have to be very alert to similar signs and liquidate some profits, not all of them of course, if this happens again.
This is just my opinion and not investment advice.
Stay safe.
Posted Using InLeo Alpha
