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ALERT! Bitcoin searches in Google hit the lowest point since may 2017

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There is no doubt that 2018 has been a tough year for Bitcoin and the rest of the cryptocurrencies. As the price slump continues to take a toll on the price value of various virtual currencies, a research report that was done on Google Trends has disclosed that there is a growing percentage of the general public losing interest in digital assets, including Bitcoin.

Specifically, the researchers made headways that searches for the two top virtual currencies in the crypto market, Bitcoin and Ethereum, has witnessed sharp depreciation in recent months. As per the findings of the research, fewer people are showing interest in searching the word Bitcoin on Google than at any time for about a year. Information gathered from Google Trends indicate that Bitcoin’s search term is advancing towards historic low levels of popularity never seen since May 2017.

This comes as a surprise as the market has been flooded by constant streams of price analysis articles that claim Bitcoin fortunes are going to skyrocket to a million dollars at any time while the endless cries to decentralization have been on an all-time high. What the findings of the study done on Google Trend tell us is that the interest in virtual currencies has gone down massively over the past few months.

According to the research findings, Bitcoin searches have depreciated by more than 60 percent since the beginning of 2018, marking their lowest level in recent history. The Google stats story stand to be the same for the second largest virtual currency after Bitcoin in the crypto market, Ethereum.

People are not only searching less for Bitcoin, but they are also venturing less into the trade of cryptocurrency assets. As it was reported in August by many reputed media sources, the graphics-card producer, Nvidia, established that the sale of its cryptocurrency-dedicated graphics card had depreciated from its initial price of 289 million US dollars in Q1 of 2018 to 18 million US dollars in Q2.

Trade volumes have also devalued sharply since the peak milestone that was experienced in the first weeks of January this year. During the early days of January, the market capitalization of the entire cryptocurrency market was equal to just over 835 billion US dollars. Today, the story is different as the whole market cap of the crypto market currently stands at about 210 billion US dollars, an estimated decline of 75%.

Exchanges have not been left behind in the dismal crypto performances recording precipitous declines in trade volumes. For instance, trading on one of the largest and most significant crypto exchanges in the world, Coinbase, recorded alarming trade declines of 83% since January 2018.

Is this the beginning of the end for Bitcoin and cryptocurrencies in general?

There seem to be two ways of looking at the current situation. Pessimists might want to convince us that virtual currencies are set to fall further and fade into obscurity to never come back again. On the other hand, it might be prudent to look at the situation as a stumbling phase for Bitcoin as well as other cryptos following an extended wild-west period of exchange. The virtual currency market is coming into its own.

During the last weeks of 2017 and early 2018, the market witnessed huge price surges in the cryptocurrency market being driven by people trading under the deception of the greater fool theory. Many people invested in cryptos thinking people would continue to purchase after them, driving up the prices and facilitating them to sell.

Up until February, the greater fool theory strategy might have worked. As Bitcoin has been reasonably constant since then, individuals trading using the argument of the greater fool theory would have been either less or totally uninterested in trading.

Although the get rich quick mentality exists in many people who venture into cryptocurrency still lingers on, it has far less than it was 12 months ago and that is a good thing as both the crypto-king Bitcoin and market will only attract individuals and traders who are in it for the long haul.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Geralt/Pixabay

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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