What amazes me is that despite seeing record levels of trading volumes across crypto exchanges, on the bitcoin futures market, and even on the bitcoin blockchain itself, public interest hasn’t really picked up just yet.
Looking at google trends for the search term “bitcoin”, we can see that there has been an uptick recently but we’re nowhere near the levels seen in December 2017.
Indeed, despite the massive price movements, a recent survey shows that only 23% of respondents feel that what we’re currently seeing can be classified as FOMO.
Yes, we’ve come a long way already and I would be very surprised if we don’t see some sort of pullback, or at least a consolidation.
Given the overwhelming headlines we’ve seen indicating that mass crypto adoption may be around the corner and given the historic parabolic bull and bear cycles that Bitcoin is used to, in my mind we might be just getting started.
Disclaimer: Crypto is a risky asset class and some coins may eventually reach zero, so please trade with caution and consider diversifying your portfolio.
@MatiGreenspan eToro, Senior Market AnalystToday’s Highlights
Weak Chinese Data; Strong Stocks
Please note: All data, figures & graphs are valid as of May 15th. All trading carries risk. Only risk capital you can afford to lose.Traditional Markets
The stock markets are doing just fine this morning despite the current trade war between the US and China, possibly due to the recent weak economic data from China.
Yeah, data from China out this morning showed that retail sales, industrial production, capital investments, and even unemployment were all much worse than economists were forecasting. Important to note that this data reflects the period before the recent tariff hikes.
Bad news for the economy is good for the markets though. The expectation is that the P...