A bitcoin now exceeds €16,000 – Is the hype just beginning?

Moon target within reach – While the price of Bitcoin (BTC) seems to be getting dangerously close to its ATH, the 16,000 euros have been exceeded, in addition to the 19,000 dollars. Yet this is only the beginning of the hype, so much so that it has already started.

3 years after his last bull run, a new record on the horizon

With a daily high of 16,295 euros at the time of writing, Bitcoin is in the process of getting to grips with its all time high (ATH) of December 2017, which was close to 17,000 euros.

Even at that time of total euphoria at the end of the speculative bubble, the Bitcoin Code review price had only held up for 3 days above 16,000 euros. So this weekend could already be historic if Bitcoin does not fall below this symbolic threshold.

The situation is the same with the quotation in US dollars, with a BTC above $19,000 since 24 November.

FOMO still in its infancy

However, the fear of missing out is only just beginning to be felt, according to some of the metrics available on The Block’s data aggregator.

The first graph below shows that the volume of Bitcoin-related tweets has just started to increase in recent days. Twitter has seen more than 340,000 messages about the king of crypto in the last week.

A sign of early signs of a new upward movement: we can see that on Ethereum (ETH), despite being the second most valued crypto on the market, the rise in tweets has not yet been felt.

The situation is similar in terms of search volumes for the keyword „Bitcoin“ on Google. Even if we see the beginning of a slight increase in the last 2 weeks, we are still far from the search madness of the end of 2017.

If we consider that the previous high had been reached when everyone had only Bitcoin on their lips, the current situation can be seen in a very optimistic way. Indeed, Bitcoin is already very close to its ATH, but is still a long way from making the headlines and being the talk of the town.

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