The general interest towards Bitcoin and cryptocurrency is on the rise lately, as the retail investors are waking up from their deep sleep as well. Dumb money, as I like to call them, are usually late at the party and dip their toes into "life changing financial opportunities" once they have confirmation...
The recent Bitcoin futures ETFs might be that confirmation retail was waiting for. When El Salvador has made Bitcoin legal, the price of the cryptocurrency has actually tanked, while now after Wall Street has confirmed its value, individuals are starting to look into Bitcoin more seriously.
Looking at the data provided by the google trends, it seems that interest in Bitcoin, based by the searches on the term Bitcoin are on the rise for the past month, and knowing or at least supposing that financial institutions don't search for Bitcoin on google, it's clear that the searches come from retail.
I have brought a bunch of people to the crypto world lately and while doing that I was amazed to realize how little do they know about Bitcoin and what lack of desire to educate themselves they actually have. They are basically buying the hype in here...
What do people actually know and don't know about Bitcoin/crypto?
They know it's some form of digital money, but they have no clue who created Bitcoin, why it was created from the first place and what's its purpose in the world. They seem to know better the stories about folks making money out of it rather than what Bitcoin actually is.
They clearly have no clue what the hell a blockchain is and how it works. Most of them still believe Bitcoin is a product of a website and that if the website is down so their Bitcoin will. If you hold crypto on exchanges then that affirmation is true, to some extent, but real HODLers don't store on exchanges.
They expect it to get to a million dollars... I don't know where this narrative comes from, because I no longer follow accounts coming with price predictions, but I've noticed this pattern of "calculating a crypto potential future wealth" by multiplying one's amount of BTC with $1,000,000.
The most important thing though that these guys that seem to be awakening lately are missing is that Bitcoin is actually in no control of everyone and that's what gives its insane value. A value that goes beyond dollar pairings, which will be leveraged in the years to come when financial empires will collapse.
Nevertheless, according to google trends, retail investors are awakening towards Bitcoin and that's great. I'd dedicate more time on education though if I were them, instead of following all sort of characters on facebook and instagram and invest in SHIB or DOGE.
Thanks for attention,
Adrian