Even after a massive crypto bounce, retail interest in crypto is incredibly low - Google searches are non-existent and this place is a ghost town. This is a great sign! We are lucky that we get to accumulate with institutions.

Bitcoin did a 2x since the lows in 2022 and Ethereum did a 2.4x. The total market cap did a 1.73x. Not only did we bounce hard since 2022, there's a lot of bullish narratives brewing. In short, as you know, there's a ton of institutional interest, as evidenced by new exchanges and ETF applications led by massive institutions.

Yet retail interest is so low that I would argue that retail is nowhere to be found. The bear market and all the media narratives scared most retail off.

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(1) Searches for crypto are incredibly low

Searches for Bitcoin are very scarce:

Bitcoin searches

Searches for Ethereum are also very rare:

Ethereum searches

These are search levels not seen since before our last major bull run (highlighted period):

https://preview.redd.it/5fy0rszdblbb1.png?1228&format=png&auto=webp&s=259136cc8261ceeedf6b484c62438c71cec5705c

Retail interest only appeared after massive green candles. This explains why so many of us -me included- started in 2020 and likely even 2021. A lot of retail got sucked in the market then that served as exit liquidity. Such is tradition.

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(2) This subreddit is incredibly inactive now - we lost 89% activity in 2 years!

This place is very slow, especially on weekends. Between July 1 and July 11 in 2023, we averaged 1500 comments per daily discussion post. For comparison, a year ago during the same time, we had 2500 comments per daily. A year before that, it was 13700 per day!

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https://preview.redd.it/g300pm9pclbb1.png?646&format=png&auto=webp&s=27bbed20012a7e9b68e7e05f505f875e31f4aeb2

So in two years, the percentage decrease in activity in the daily is 89%! Reddit says that we have 6.5 million members and that 5k people are online right now, but this place is a serious ghost town.

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Concluding remarks

Although this bear market is tough, it is truly a blessing that we get to accumulate while most retail has left. Retail interest is obviously incredibly low. We are now accumulating alongside of the institutions. Hype will return at some point thereby drawing in the retail crowd and this will be evidenced by searches for Bitcoin and Ethereum as well as more activity here. Then we need to be ready to take profits and be the one doing the dumping (for a change).