Google searches is down about 75%. Trading volume is about 78% down. Price stuck below $10k
Here are some misconceptions that Tom Lee cleared about bitcoin
Why searches being down is irrelevant.
Google searches aren't a leading indicator of bitcoin. It's actually a coincident indicator meaning as the prices fall and i think interest has dwindled. But i don't view that as signalling bitcoins not going to recover by the end of the year.
Why trading volumes are also down
Trading volumes are down huge from December they're down close to 80 percent. But you have to remember December was the parabolic blow off for Bitcoin and compared to just the second half of last year Bitcoin volumes are up 40 percent and compared to a year ago the same time January to June bitcoin volumes are 900 percent so i think that volumes have been pretty healthy.
TO
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3.Why can't Bitcoin break through $10k
Bitcoin has really some technical issues. It's kind of busted chart and I think there was some uncertainty of a regulatory overhand but you have to keep in mind. That Bitcoin makes of its performance in ten days and in years so I don't think the fact that it's at the current levels is going to prevent it from actually rising before the end of the year.
TO
