Interest Over Bitcoin Increases Over Time, Blockchain Declines
Sunny Ray, co-founder and president of Unocoin, India's leading Bitcoin company, recently shared an interesting chart which differentiates the level of interest the general population has for Bitcoin and Blockchain. Over the past two years, a significantly large number of users continuously searched the keyword “Bitcoin” on Google, especially amid strong price rallies. In the chart provided by Ray, it is evident that the interest directly correlates with the performance of Bitcoin on the market, as Google searches for “Bitcoin” peaked globally when its price reached an all-time high in....
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Following the crash to $35k, the Bitcoin open interest has declined to September 2021 levels. This may suggest that the market volatility will be lesser in the near future. Bitcoin Open Interest Drops To Similar Levels As In September 2021 As pointed out by an analyst in a CryptoQuant post, the BTC open interest has decreased to similar levels as last September following the crash. The “open interest” is an indicator that measures the total amount of Bitcoin futures contracts currently open in the derivatives market. The metric accounts for both long and short positions. When....
Institutional investors had FOMO’d into bitcoin with the release of the first Bitcoin ETF. This enthusiasm quickly died down the week following the approval as trade volumes plummeted. The record opening was quickly replaced by lackluster momentum that saw institutional investors pull out of the market, likely owing to the asset touching a new all-time high and traders taking gains. institutional Bitcoin open interest had skyrocketed with the price, signaling the entrance of big money into the market. The run-up had lasted until the very end of October. Open Interest saw its peak on....
Ethereum has seen more interest in recent days. Most of it has come from the price decline of the digital asset which has allowed investors to get in at a much lower price. This interest can be easily seen in the rise of the Ethereum-denominated open interest. In the last week, this has risen dramatically. […]
The said 20-50 crossover has historically served as a predictive sell-off indicator, which increases risks of further declines in the Bitcoin market.
Increasingly, the subject of anonymity-focused Monero has been popping up on blockchain forums. According to Google Trends, searches on the topic surged by about 700% in August 2016. What is Monero? How is it Different from Bitcoin? Monero is currently one of the most traded cryptocurrencies. It ranks sixth in cryptocurrency market capitalization. Its market cap is about $150 million USD, and its value is about 1% of that of bitcoin. In the month of September, Monero’s price hit an all-time high of about $14. The price was around $2 the previous month. The rise in price and the growing....