Bitcoin-related predictions have been mostly optimistic this year, and crypto enthusiasts received what they were waiting for a few days ago with the first bulls of 2019.
Bitcoin’s popularity surges
Also, BTC’s popularity seems to be going up these days as well.
Smartereum reports that the media coverage that BTC has been seeing now is quite similar to the one it saw back in 2017 when it surged to around $20k.
The rally that hit the market this Monday managed to mark the first time a daily double-digit billion dollar gain has been seen in the crypto market, as the online publication notes.
They continue and highlight the fact that the crypto market saw something similar a long time ago and that’s why it has been created all this hype around.
Smartereum cites data from Google Trends and notes that the term Bitcoin “had tripled in terms of interest since April 2nd when the bull market started. Presently, the term is getting close to the levels it reached last year in December.”
More than that, it looks like the Bitcoin search term was not the only one that benefitted from the bull market.
— cnLedger (@cnLedger) April 4, 2019
The term “crypto” also went up as well. “The trend is global, and Google is using reports from cities such as Berlin, Lagos, Vienna, New York, Los Angeles, and Toronto,” Smartereum writes.
They conclude the subject by saying that this is definitely a sign that institutional interest in BTC and crypto grows larger.
How high can BTC go during the next bull?
The same online publication also debates the heights that BTC can reach during the next bull run.
It seems that various charts from on-chain transactions have revealed that BTC mining difficulty level and mempool transaction count have reached or are near all-time heights.
A mempool is the network’s holding area for transactions that have been made but not put into a block yet.
These levels seem to be comparative to the ones of late 2017.
All these elements point to the fact that the “fundamentals of the network have not let up despite the prolonged winter.”