Crypto News

The Block: the Mass adoption of bitcoin still remains a dream

According to research , The Block, the mass adoption of bitcoin “is still a dream.”

The number of searches for “bitcoin” in Google, the number of followers of kryptomere on Twitter, views a Wikipedia page Bitcoin and the trading volume of BTC/USD ― all these four indicators today are far from 2017, when the price of bitcoin has reached a historic high of $20 000.

The number of search queries in Google peaked in December 2017. This year people searched for “bitcoin” in eight times less.

The rate of new followers of kryptomere on Twitter, such as Binance and Coinbase, also shows slower growth rates compared to 2017. In January 2018 the exchange received nearly 254 000 new Twitter followers, while the average increase in 2020 is about 5 340 (50 times less compared to the peak level).

Views Wikipedia page Bitcoin in 31 times lower in comparison to December 2017. With regard to the trading volume of BTC/USD, it reached a maximum during the week until December 17, 2017 (nearly $17 billion). Average weekly trading volume in 2020 was $2.5 billion, which is almost seven times less compared to the peak period.

Overall, these data suggest that today on the stock market much less participants compared to December 2017. However, as analyst Larry Cermak from The Block structure of the market over the past two years has improved significantly and became more institutionalized. This means that the next rally of the bitcoin market will be much better prepared.

Source:

coinspot.io

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