Here's Why the Current Bitcoin (BTC) Rally Is Different from the 2017 Bull Run
Quote: "Notably, many crypto researchers believe that the crypto market rally of late 2017 and early 2018 may largely be attributed to the interest shown and investments made by retail investors. The present rally, however, may be due to an increased inflow of institutional capital into the nascent digital asset ecosystem. This, according to the latest data from Google Trends, which suggests that institutions are now more interested in crypto-related initiatives than ever before.
Current Google Trends data also shows that search interest for “Bitcoin” is only about 10% of the level it reached in 2017. Widely-followed crypto journalist Joseph Young believes “FOMO amongst retail investors has not even begun yet, possibly not even close to it.
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While overall retail investor interest in cryptoassets currently appears to be relatively low, institutional demand for Bitcoin, the world’s most dominant cryptocurrency, seems to have increased significantly. Notably, the open interest for BTC futures (as of June 17, 2019) at the CME Group has led to 5,311 contracts - valued at about 26,555 BTC (appr. $290 million at current prices)."
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