Bitcoin's search volume hit a significant low in October 2024, dropping to levels not seen in over a year. According to Google Trends, the global search interest for "Bitcoin" fell to a score of 31-33 out of 100, a stark contrast to the highs seen earlier in the year when excitement around Bitcoin ETFs drove the score to 76 or higher. This decline suggests reduced retail interest, as Bitcoin's price movements have been less dramatic in recent weeks.
The drop in search interest indicates that Bitcoin may be entering a more mature phase, where sudden retail-driven spikes in attention are less frequent. Some analysts believe this may lead to more stable but slower growth, with fewer speculative spikes driven by retail investors. Meanwhile, alternative assets like memecoins have seen a surge in interest, with search volumes reaching 77 out of 100, reflecting a shift in investor focus.
This reduced attention toward Bitcoin could also mean that investors are awaiting a new catalyst, such as regulatory changes or major technological advancements, to reignite enthusiasm.
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