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Bitcoin (BTC-USD) Demand at an All-Time High

May 19, 2021

Bitcoin (BTC-USD) Demand at an All-Time High

Over the past week, Bitcoin (BTC-USD) has forfeited the majority of its 2021 gains, dragging the entire cryptocurrency market more than -20% lower today. Despite the apparent fear gripping the cryptocurrency space, Bitcoin Purchase Intent Mentions have put in 2 new daily highs in the past 10 days – And, today’s PI volume looks like a strong candidate for a new record, with half the day still remaining. It’s unclear whether the Mentions are from those who have already bought and are ‘hodling’ or from opportunistic investors buying the dip. Regardless of the recent price action, the fact remains: Bitcoin Demand is at an all-time high level.

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LikeFolio analyzes social media data to accurately predict shifts in consumer behavior. We sell data and insights to professional investors, corporate research teams, and software providers.

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