Not 100% related to the topic, but Benjamin Cowen posted an interesting metric of Historical Social Metric Risk:
https://x.com/intocryptoverse/status/1946721969262477783
I don't think the metric is accessible for free, though.
Anyhow, from the comments I understand it represents retail interest via social media activity (e.g., YouTube views/subs, Twitter mentions). But the big question is whether it's bullish or bearish.
Bullish interpretation: it proves that Bitcoin is underhyped and there's still potential for growth.
Bearish interpretation: retail is simply not interested in Bitcoin and won't be putting their money in it.
I'd add a neutral interpretation to it: everybody already knows what Bitcoin is. It has become mainstream and purchasable even on non-crypto finance apps, therefore people could be investing in it without talking about it as much as they did in the past.
https://x.com/intocryptoverse/status/1946721969262477783
I don't think the metric is accessible for free, though.
Anyhow, from the comments I understand it represents retail interest via social media activity (e.g., YouTube views/subs, Twitter mentions). But the big question is whether it's bullish or bearish.
Bullish interpretation: it proves that Bitcoin is underhyped and there's still potential for growth.
Bearish interpretation: retail is simply not interested in Bitcoin and won't be putting their money in it.
I'd add a neutral interpretation to it: everybody already knows what Bitcoin is. It has become mainstream and purchasable even on non-crypto finance apps, therefore people could be investing in it without talking about it as much as they did in the past.
My interpretation, when retail has become very interested, this is where the dump by the whales begins heheheh. This implies that for how many bull markets, retail has always used as the exit liquidity and the next arrival of the bubble pop will not be very much different hehehee.
@zasad@. Where are you? We have been talking about this. Your speculations will also be very useful in this thread hehe.