Suddenly, Bitcoin seems a bit boring. It might be hard to believe.
But after the 1,400 percent rally of 2017, with wild swings along the way, the great crypto craze has cooled, at least for now. For the past month, Bitcoin’s price has stalled between $8,500 and $11,300 — a minuscule range by its standards.
And internet searches for “Bitcoin” have plunged, suggesting public interest has, too. “The general public is now realizing that this is not a risk-free, get-rich-quick, investment opportunity and general interest has since diminished,” said Lucas Nuzzi, a senior analyst at Digital Asset Research.
A value of 100 is the peak popularity for the term The 2018 lull shows just how quickly investment fads can come and go. Gone for now are the days when Bitcoin dominated talk at holiday tables.
Stories lately look a lot like the ones in the back sections of financial papers — dry accounts of regulatory scrutiny, market structure and legal wrangling. Online searches for “bitcoin” fell 82 percent from December highs, according to Google Trends. Read more from bloomberg.com…
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