Will It Break the Stalemate

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The Bitcoin Google search volume has dropped to its lowest point this year. CryptoQuant CEO Ki Young Ju recently highlighted this trend, pointing out how the leading cryptocurrency has struggled to regain public interest. 

This is because Bitcoin continues to move sideways without any big price jumps. Even though Bitcoin hit an all-time high of $74,000 in March, it has not had another major rally since then. 

Bitcoin’s Halving Event Brought Hype, Then Silence

Earlier this year, Bitcoin’s halving event in April grabbed much attention within the crypto community. It even surpassed the previous search peak from May 2020. However, since then, Bitcoin has lacked a major jump to keep the excitement alive.

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Despite hitting an all-time high of $74,000 in March, the crypto has struggled to generate another significant rally. Several bouts of volatility, such as a dip below $51,000 in August, failed to reignite the fire. 

Bitcoin is now down just 15% from its peak, but its buzz has cooled significantly. According to CoinMarketCap data, Bitcoin is trading at $62,146.52, down by 1.56% in the last 24 hours. 

Shockingly, American intelligence software firm MicroStrategy’s (MSTR) stock price has seen impressive surge, leaving the digital asset’s price to in dust. 

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$65,000: The Key Level for Bitcoin?

Recently, pseudonymous crypto trader DonAlt weighed in on Bitcoin’s current situation. He suggested that reclaiming the $65,000 level could be Bitcoin’s key to breaking out of this endless chop. 

According to him, if Bitcoin can pass this important price point, it might kick off a new rally. For now, though, the price is still stuck in a range, and many are waiting for a clear sign of the next big move.

Meme Coins Take Over the Spotlight

While Bitcoin’s search volume slumps, memecoins thrive in the public eye. Google search data indicates that this week could mark a new record high for interest in meme coins, stealing the spotlight from Bitcoin. 

Despite most memecoins being far below their all-time highs, new players in this sector keep the excitement alive. Speculatively, the general public is more captivated by the playful and speculative nature of meme tokens rather than Bitcoin’s current stability. The big question remains: will Bitcoin reclaim the stage or not, this remains to be seen. 

Nonetheless, the Author of Rich Dad, Poor Dad, Robert Kiyosaki, has ignored Bitcoin’s sideways trading and recently advised new investors to take advantage of the market situation while they can. 

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