Is Crypto Hype Dying Down?

Consumers’ interest in digital currencies as an investment tends to follow the price of the largest cryptocurrency: Bitcoin (BTCUSD).

Over the past 6 months, the price of Bitcoin soared by more than 4x , and mentions of investing in cryptocurrency rose to similar highs, up +405% YoY in the past week.

As the total cryptocurrency market cap has surpassed $1 trillion, BTC's price action has cooled significantly... we’ve seen a corresponding drawdown in consumer enthusiasm:

Consumer mentions of purchasing or investing in have declined substantial from the all-time high reached in early February, a retracement of roughly -50% in the past week.

Is this the end of the Bull Market?

Maybe, but crypto investment chatter is still at major highs relative to its historical levels -- We're not expecting to see a crypto market crash just yet.