Increased interest in the price of Bitcoin on Google Trends

Is this the first Bullish start off the next bull market potentially or do you have to be very careful about this?

Chart Analysis

Looking at the charts, some of the technical analysis are actually getting a little bit Bullish as long as we are staying above $42,00. Maybe that is because of that Bullish divergence that we see on the chart.

The RSI is basically diverging from the price action that could indicate that there is potential for a trend swing.
We can't fully confirm the bottom based on charts but we can guess, and it looks like a Bullish divergence on the four hour chart.

But going back to the Bitcoin interest on Google Trends, there's actually that little uptrend in the interest of Bitcoin.

Why Is That Uptrend and Is That A Bullish Sign?

Is that really a bullish sign? No, it's actually not.
If we have a closer look, we can see on the world wide 30-day chart, people were looking up Bitcoin way more often lately.

But this is not the people who are interested in buying Bitcoin, because if you type in buying Bitcoin, it is not that massive. But on the other hand if you type in Bitcoin crash, then you can see where this uptrend is kind of coming from.

So it looks like probably people are not interested in buying more Bitcoin right now.

That's definitely not the start of the Bull Market but people were looking at Bitcoin because of this crash that we have seen recently.

Think about it, that all those people who bought Bitcoin over 2017-18, who have massive loss as well, they were probably not really happy when that whole Bitcoin cash scenario, that whole drama that catalyst pretty much started these huge legs down.

So, probably most of the interest for Bitcoin is not coming from potential new investors but from people who are basically trying to know what's going on.

You probably have seen that during those crashes, more videos were watched on YouTube about cryptocurrencies, people were looking for explanations and so on.

So be very careful, with some indicators, you really have to understand them, what do they mean and you always have to have a look at the Bearish but also on the Bullish side.

Seeing that Bitcoin interest increased on Google Trends, I can definitely not confirm that the increased interest on Google Trends for Bitcoin is due to an upcoming Bull Market anytime soon.

Increased interest in the price of BITCOIN on Google Trends

Increased interest in the price of Bitcoin on Google Trends

Chart Analysis

Why Is That Uptrend and Is That A Bullish Sign?

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