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Cryptocurrencies: 28771
Markets: 114668
Market Cap: $2,408,198,839,716     
24h Vol: $75,873,079,466
Seeking Alpha 2021-02-08 15:30:36

Bitcoin hype seems contained - ARK Invest

Bitcoin hype seems contained - ARK Invest
ARK Investment management says the hype surrounding the latest run for Bitcoin (BTC-USD) +15% looks contained compared to Ethereum (ETH-USD) +11% based on search interest.In a note that came out before Tesla revealed its investment in crypto, ARK cryptoasset analyst Yassine Elamndjra writes that the rally to $40K last month generated search interest that was just half of the rally to $20K."As measured by Google’s relative search interest, when bitcoin’s price soared to more than $40,000 in early January, the 'hype' reached only 50% of that at the peak near $20,000 in 2017," he says."Google’s relative search interest for Ethereum in this cycle hit a higher high than after its parabolic move in 2017," e adds. "Since early January, however, it has slipped to ~60% of that peak. Meanwhile, the price of ether has broken out to an all-time high of $1,750 as of this writing."Bitcoin is currently close to $43,700, while Ethereum is
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