Cryptocurrencies are popping in 2020. The entire market’s capitalization has once again touched $300 billion – something that was last seen six months ago. The interesting part is that it’s not just Bitcoin’s price that’s increasing this time – altcoins are exploding as well.
Naturally, as it has always been the case, this drives more retail interest. Cryptocurrency-related titles are once again seen in mainstream media, while related Google searches keep on going up.
Most recently, plenty of books related to Bitcoin and cryptocurrency trading are making Amazon’s best sellers list for 2020.
Amazon is one of the largest online retailers in the world. It’s also one of the biggest marketplaces for books and e-books. As such, writers across the board are using the platform to market their writings and reach a broader audience.
A closer look-up into the “Online Trading & Investing” section reveals that almost 20% of the books there are related to Bitcoin and cryptocurrencies.
This was also brought up by Nik Patel, who is the author of one of the books recently ranked #3 on the list.
However, it’s worth noting that this particular list is updated hourly and, at the time of this writing, the order is a bit different. Yet, the number of books on it is notable. This signals a serious interest from retail investors towards the cryptocurrency field, in general.
As the prices of cryptocurrencies increase, so does the interest in investing in them coming from regular, everyday people. These investors are referred to as “retail” because they don’t have, for the most part, professional knowledge on the matter and do not classify as institutions.
One of the most definitive tracking metrics for measuring retail interest is the searches on Google.
As CryptoPotato recently reported, queries for the “buy Bitcoin” key phrase have surged to a high last seen in June 2019 when Bitcoin’s price popped to $14,000. This is an important key phrase because it shows interest in buying Bitcoin, rather than just learning more on the matter. However, “Bitcoin” searches are also peaking.
It’s also important to note that Google searches are usually a trailing indicator and they follow the price rather than coming before it. In other words, people become interested when they find out that the price of a certain cryptocurrency has increased.
All of the above is more or less expected. As mentioned, cryptocurrencies are charting tremendous gains since the beginning of 2020 and they show no signs of slowing down.
But it’s not only that. One of the most highly-anticipating events, the Bitcoin Halving, is estimated to take place in May 2020. Historically, this has been a major catalyst for Bitcoin’s price, which tends to surge significantly after it happens. This is why a lot of people are currently anticipating a serious bull run which could be prolonged in the year after the halving.
