With the price of BTC falling below $55,000, Bitcoin search popularity is approaching a 1-year low


Bitcoin (Bitcoin) There was a widely expected correction on October 13th as the bulls struggled with the all-time high set in February.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Analysts are not worried about BTC’s price correction

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD dropped from a five-month high to below 54,000 USD on Bitstamp.

After rebounding to around US$55,000, the currency pair looked volatile on Wednesday, with no clear direction in the short term.

However, for analysts, these moves are not surprising. US$58,000 is considered a tricky resistance and it is unlikely to break all at once, and the opportunity to “buy on the dip” at US$53,000 or below is also On the radar For many.

Trader and analyst Rekt Capital “This BTC pullback does not worry me at all” Summarize.

he Add to Such retesting and integration may be necessary features for Bitcoin to consolidate new support and continue to record highs or even higher.

Popular trader Pentoshi also holds a similar view, implying that the higher lows that may be caused by the pullback may be the last Bitcoin before attacking higher levels.

“If the 48k is lost, clearing is invalid,” he in conclusion In a Twitter comment on Tuesday.

Lack of euphoria is a “pleasant surprise”

As Cointelegraph Report, Although Bitcoin is less than 15% from its all-time high, it has remained low-key.

related: Need some bitcoin “hopium”?The chart requires that the BTC price hit a record high by November

Google Trends Data show Compared to earlier this year, there is a relative lack of interest in the fourth quarter Bitcoin highs.

Although the emotions showed signs of greed, they did not Go to extremes It is traditionally a feature of local and macro price tops.

“As we approached $60,000 of Bitcoin, we were pleasantly surprised by the lack of excitement,” Charles Edwards, the founder of the asset management company Capriole, responded this week.

“It’s like October 2020.”

Global Google search data for “Bitcoin”.Source: Google Trends