Why Cryptocurrencies Aren’t Talked Like They Used To Anymore

One of the most discussed investment instruments of recent years. cryptocurrenciesWhile it provided great gains to some, it caused serious losses to others. New investors, who are aware of this situation, are inevitably in a great hesitation and at the point of whether or not to enter this market. they are hesitating.

There is also an ongoing situation in parallel with the developments in the crypto money markets. So much so that people now use cryptocurrencies. they don’t talk like they used to. We will have readers who remember; For a while, cryptocurrencies, especially Bitcoin, were spoken on all news channels, and financial experts were making evaluations. Nowadays, even the B of Bitcoin is not mentioned. So why? Let’s discuss this situation together.

Do people really not talk about cryptocurrencies?

Before we get to the answer to the question we’re looking for, let’s see if there really is such a thing. we detect needs. So first of all, we have to answer the question “are people really not talking about cryptocurrencies anymore?” We can find the answer to this question instantly through Google Trends, which keeps the data of the Google search engine. Let’s all talk about the cryptocurrency community some terms Let’s see how the search volumes are:

Google search volume for the term “cryptocurrency” is declining!

In the table above, “cryptocurrencyYou can see the graph that shows the search volume of the term ” and shows the data around the world. When we look at this graph, which shows the last 2 years, we see that the interest in cryptocurrencies is fluctuating in general, but recently regressed for good and we even see it return to its days in the last periods of 2020.

The same goes for the term “Bitcoin”!

The decline in interest in the term “cryptocurrency” isn’t the only thing that has become trivial in this market. such that “bitcoinWhen we look at the chart of the search volume for the term “, we encounter a similar situation. Interest in the cryptocurrency markets is currently at the same levels as at the end of 2022. regressed case.

If we summarize what we have said so far; yes, people use cryptocurrencies they talk less now.

So why didn’t people talk about cryptocurrencies as much as they used to?

As a matter of fact, it is very difficult to say anything definite about this issue. Because people don’t talk about cryptocurrencies. multiple reasons lie. We can list these reasons as follows:

• When the COVID-19 pandemic is left behind and people return to social life.
• Global events and inflationary pressures.
• The prevalence of fraudulent incidents.
• The manipulations.
• Decreased confidence in cryptocurrency markets.
• Morale after the falls.

Here’s why cryptocurrencies are no longer talked about as much as before possible causes We can sort it like this. Let’s take a look at the details of these reasons.

Staying behind the COVID-19 pandemic and returning people to social life

The COVID-19 pandemic, which broke out at the end of 2019, literally captured the years 2020 and 2021. People due to the epidemic to their homes they closed, economies came to a standstill, and the disruption of business at that time still shows its effect as a chip crisis today. But now, we have forgotten about the COVID-19 pandemic. We are living a social life again and priorities have changed. With all these; government support also ended. Strict crypto watchers know; A significant portion of the money poured into people at that time entered the crypto money markets, and the volume of crypto money markets reached 3 trillion dollars in November 2021, according to Coinmarketcap data.

Of course, all this had a consequence. The money entering the crypto money markets, all cryptocurrencies, especially Bitcoin. to valuation had caused. In fact, Bitcoin saw the levels of 68 thousand dollars in November 2021 again. This price was the highest in history for Bitcoin and everyone from the cake getting a share he was after her. That being the case, it was no surprise that everyone’s number one agenda was cryptocurrencies.

Global events and inflationary pressures

The end of the COVID-19 pandemic has not given us a sigh of relief on our planet. When the calendars show February 2022 Russia and Ukraine The ongoing war between them broke out. While people are just starting to recover, as a natural result of all the events that have happened, they are on a global scale. inflation crisis faced with. While the purchasing power of the people decreased more than ever before, some countries such as Turkey felt the inflation much more deeply. Parallel to these, there was a contraction in the crypto money market, and investors who needed cash were withdrawing their money.

The prevalence of scams

The fact that cryptocurrencies are both very profitable and popular, hackers and fraudsters whetted his appetite. As such, there has been an increase in cyber attacks and fraudulent incidents. For example, which caused a great loss to the investors in our country and did not fall off the agenda at that time. THODEX the emphasis. In addition, both specific to Turkey and globally dubious events took place. (This is why there are even cases that we are suing!)

By the way; markets were not only harmed from outside. In the industry itself There were great events too. for example Terra (LUNA) event. The cryptocurrency named LUNA, which shines in 2022 and hovers above $100, is due to the failure of the same team’s stablecoin UST to hold $1. up to $0.0001 declined. The event, which caused billions of dollars in losses, even caused some crypto financing companies to go bankrupt.

The manipulations

Cryptocurrencies have not only been harmed by cyberattacks, scams and other hacks. The clearest indicator of this is the billionaire businessman. Elon Musk. The business person, who is familiar with the crypto money markets, has hit the bottom of the manipulation according to many people. As a matter of fact, we cannot say that those who think like this are wrong. Because while every cryptocurrency is established to serve a purpose, set up as a joke and serve nothing Dogecoin (DOGE)reached record prices with the support of Elon Musk…

Decreased confidence in cryptocurrency markets

Is it easy to trust cryptocurrencies after what we explained above? Of course not. Here are all these things, people’s interest in crypto money markets. weakened his confidence. Pleasant; It wasn’t very reliable anyway. So much so that at the beginning of 2022 according to a research A very serious portion of people, such as 72 percent, have already invested in cryptocurrencies “high risk“. Experience shows that the risk is now much higher than ever before.

Depressed mood after the falls

The year 2022 has been quite challenging for the cryptocurrency markets. Bitcoin, which was traded at $ 48 thousand on January 1, 2022, on September 16, 2022, when this article was written. 19 thousand dollars trading levels. The lowest price seen since the beginning of the year is 18 thousand dollars. In simple terms, an investor who invested 48 thousand dollars and bought 1 Bitcoin on January 1, 2022, lost more than half of his money as of now. This caused despondency It also turned people away from cryptocurrencies.

In this content, we tried to explain why people don’t talk about cryptocurrencies as much as they used to, with the strongest examples. So what do you think? In your opinion, why aren’t people talking about cryptocurrencies the way they used to?