The main indicators of the crypto market demonstrate that it is still very far from the massive adoption of bitcoin.
The number of Google queries for “bitcoin”, the number of new subscribers to crypto exchanges on Twitter, as well as BTC/USDT trading volumes are very far from the figures of 2017, when BTC broke through $20,000.
For comparison, Google users are 8 times less likely topeople are requesting information searches for the word “bitcoin” than in 2017, and the number of views of the bitcoin page on Wikipedia has fallen 31 times. Average weekly trading volume in 2020 was $2.5 billion – in December 2017, weekly trading volume was $17 billion.
In general, these data demonstrate that in the marketfar fewer people trade. However, TheBlock analysts note that the last couple of years there has been a widespread development and institutionalization of the crypto industry. This means that the market is much better prepared for the bull run.
Let us remind you that Bloomberg analysts recently predicted the rapid growth of BTC to $120,000.
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Based on materialswww.theblockcrypto.com
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