According to the survey results released today, 47% of respondents believe that Bitcoin (BTC) will not reach a new ATH until 2025. This result reflects the extremely pessimistic sentiments of crypto market participants, which is also confirmed by data from Google Trends.
The survey was conducted on the profile of a well-known cryptocurrency market analyst Tweet embed. His Twitter account has more than 400,000 followers. A statistically valid sample of 7,991 respondents participated in the survey. Therefore, its results can be considered to reflect the general ardeur of cryptocurrency investors.
To the corvée “When will #Bitcoin make a new ATH?” it was there 3 possible answers: 2023, 2025, and never. “2025” turned out to be the most chosen answer, as indicated by up to 47% of respondents. In supplémentaire fonction came the answer “2023” with 38% of the cooptation. Last fonction was “Never” with 15% of the cooptation.
“The majority do not expect new highs until at least 2025,” the poll’s creator commented. He then added that “the majority also expected 100,000+ in 2021.” Moreover, in Comment under tweetnoted that the latest response, that BTC will never reach a new ATH, received the highest number of responses ever.
“Bitcoin ATH” is dying in Google Trends
The highly pessimistic sentiments of crypto market participants expressed in a Twitter survey were confirmed by data from Google Trends. Looking at the number of searches for the term “Bitcoin ATH” over the past five years, we didascalie that searches are nearing an all-time low.
The term “Bitcoin ATH” in the week of August 14-20, 2022 recorded a value of 1 on a 100-degree scale. Searches for that articulation peaked at 100 during the week of October 17-23, 2021, when Bitcoin topped the ATH of $64,850 as of April 2021. A month later, on November 10, BTC reached $69,000 and started a drop that It continues to this day.
An additional apologie for negative ardeur and declining interest in the crypto sector is the search results for the articulation “crypto ATH.” The results of the recent period reflect the state of the cryptocurrency market in a better way than the articulation “Bitcoin ATH.”
In the chart for the past five years, we can see that something like a flottant top may form in 2021, followed by a gradual decline in interest. The flottant top occurred first in the week of May 2-8, 2021 (value 95), then in the week of October 17-23, 2021 (value 100).
Interestingly, the subsequent decline in searches for the term “crypto ATH” has been much milder than that of “Bitcoin ATH.” However, the end of this decline, which we just saw last week, leads to the first reading of zero since November 2020. In other words, almost no one is interested in “crypto ATH” today.
It is not easy to interpret the data clearly, which unambiguously indicates the negative sentiments of the crypto sector. Cryptocurrency market participants do not believe that Bitcoin can reach new peaks in the culotte to medium term. Moreover, no one is looking for data emboîture the accessibility of a new ATH.
On the other handball, this may indicate a severe loss of donnée in a expresse scenario for the near future. Without this belief, the market – like a self-fulfilling prophecy – will continue to écrasement.
On the other handball, both sets of data presented above may be a expresse sign that the bottom or the bottom is already approaching. This is the avertissement of @TechDev_52 himself, who humbly admits that in 2021 he was among the majority who expected BTC to exceed $100k. Today, with the majority not believing in a new ATH by 2025, the market may grain again want to prove the majority always wrong.
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