Cryptocurrencies
Bitcoin's Rally Feels Like 2017, But It's Not Quite the Same
- Consumer interest is much lower than during prior record run
- Social posts “can connect the dots,” a study author says
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Bitcoin’s 60% rally since May recalls the heady 2017 surge that made cryptocurrencies part of the public consciousness. But while prices are going a crazy, the pop culture zeitgeist isn’t quite as giddy.
Google searches for the word Bitcoin were five times higher in December 2017, when the world’s largest cryptocurrency became a topic of conversation at holiday tables. During that peak, nearly 19,000 people were logged into the Bitcoin subgroup of Reddit, as compared with about 11,000 today, according to Archive.org. Back then, a Reddit post “Bought at $19,500 AMA” garnered 1,044 comments. A post today heralding "The big $12k Bitcoin" has just 285.