Retail Investor Interest in Bitcoin (BTC) Hits ATH: Details
U.Today – There has been a massive uptick of interest among noncryptocurrency owners as these “outsiders” look to participate in the action. The soaring interest comes amid a bullish Bitcoin (BTC) run that has seen its price attain historic levels.
Record-breaking interest from non-Bitcoin investors
Lark Davis, a Bitcoin investor and entrepreneur, highlighted the increasing attention Bitcoin and the entire crypto industry are receiving. In a post on X, Davis noted that the surge in Google (NASDAQ:GOOGL) searches for “how to buy crypto” has reached a new all-time high (ATH).
This spike in searches suggests that more people are becoming curious about how to purchase top assets like Bitcoin. The surge could have been triggered by news about the bullish run that pushed Bitcoin to $109,000.
This has created a general hype outside the crypto space, prompting new investors to explore how to get in.
Davis’s mention of retail indicates Bitcoin may witness a resurgence of individuals and nonprofessional investors. Notably, these investors are key to the crypto market as their renewed interest could signal a broader market revival for the leading digital asset.
Primarily, a surge in retail investors usually leads to a spike in trading volume and market activity in general. In the crypto industry, retail interest in an asset usually precedes significant price movement. Hence, Davis highlights the possibility of further growth for Bitcoin on the back of this renewed public interest.
Bold predictions from industry leaders
Analysts believe this could benefit the crypto industry as more people embrace digital assets. Some have attributed the soaring interest to the anticipation of pro-crypto policies expected from the new U.S. administration being inaugurated today.
As reported by U.Today, the odds of the new U.S. president announcing a Strategic Bitcoin Reserve increased to as high as 70%.
Robert Kiyosaki, renowned author and Bitcoin investor, has called on his followers to buy more BTC. He predicts the asset could reach staggering price levels of $250,000 this year. Kiyosaki has even suggested that investors should HODL their assets and buy more.
This article was originally published on U.Today
