Given FB and Google are the two 900-pound gorillas in the ad space, this is probably a bad thing for the “google trends” buy bitcoin charts. They’re already in a downtrend, and this likely won’t help.
Daily chart double top is confirmed, and that suggests we are probably heading for a retest of 6000.
Mostly because “nobody cares”. That’s easily visible in the fees, which are back to September 2017 levels – when bitcoin was trading around 4000.
I think it is fascinating how the hype/enthusiasm was so intense one minute, and then gone the next. What’s that about? Was it engineered, or was it an emergent property? Does social media act as both an amplifier while at the same time dramatically decreasing attention span? Might bitcoin-time and facebook-attention-span be closely related?
“Enough with bitcoin. Back to pictures of kittens and puppies.”