Just take a look at a few recent headlines…
“Sell all crypto and abandon all blockchain” – Financial Times
“Bitcoin, the biggest bubble in history, is popping” – Bloomberg
TheDigitalArtist / Pixabay
“Bitcoin is the greatest scam in history” – Recode
And it’s not just the media…
They say “no”
I was recently at an investment conference in the U.S. that was full of smart, savvy analysts and investors – whose jobs depend on finding compelling investment opportunities with high-return potential. These are the sorts of people who will go to the ends of the earth to find an exciting investment opportunity… and who eat risk for breakfast.
And you know how often bitcoin was mentioned, or how many times crypto assets were discussed? Zero… Null… Goose egg… As many goals that Brazil scored until the 90th minute against Germany in the last World Cup semifinal.
And several weeks before, I spoke on a panel at an investment conference here in Singapore. During my presentation, I asked how many people had invested in bitcoin. In a room of 150 people, just two hands waved back at me. Maybe some members of the audience didn’t want to be scoffed at by their peers – bitcoin was down more than 60 percent from its recent highs – so they didn’t self-identify. But even so, the total disinterest in cryptos was striking.
Of course, my two recent investment conference experiences, and some dark headlines, don’t represent a trend.
But Google agrees with me. Take a look at the graph below from Google Trends.
It shows the search interest for the word “bitcoin” over the past 12 months. As you can see, searches for it peaked in December 2017, during last year’s crypto mania. And since the correction began, interest has plummeted. The popularity of bitcoin as a search term is just 12 percent of what it was in late December.
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