3 Reasons Bitcoin Could Go (much) Higher

3 Reasons Bitcoin Could Go (much) Higher

This is a BETA experience. You may opt-out by Major investments from the likes of Tesla (TSLA) and Microstrategy (MSTR) have helped fuel the ongoing Bitcoin (BTC-USD) bull run. Obviously, this institutional adoption of Bitcoin has delivered credibility to the cryptocurrency that was previously lacking. Ultimately, the success of Bitcoin and other cryptocurrencies is heavily dependent on individual user adoption rates. So we decided to turn the sights of LikeFolio's consumer insights engine toward the cryptocurrency market. Mentions of buying Bitcoin have surged to all-time highs. Mentions of buying Bitcoin are up +284% YoY in the past month, +19% above the highs seen during the 2017 bull run. Last time we saw consumer mentions this high, they quickly retreated“¦ followed by the price of Bitcoin. But this time could actually be different. We will keep a close eye on consumer mentions of Bitcoin moving forward as a clue to the likely price action. Of course, Bitcoin isn't the only player in town. Alternate cryptocurrencies (think Ethereum, Ripple, Litecoin, etc) are also getting more attention. Just look at this chart of the number of people talking about investing in cryptocurrencies: Mentions of investing in cryptocurrencies have surpassed all prior highs That's