Why Aren't Cryptocurrencies Currently Getting More Mainstream Attention?

The cryptocurrency market is currently in a bullish state, and the value of Bitcoin has risen by more than $30,000 since October 2023. It posted a new all-time high of more than $73,000 in March this year, but that hasn't yet led to the usual market craziness that occurs when BTC is on the up.

During the last bull run, cryptocurrencies started to get a lot of mainstream attention. That hasn't quite happened this time, but there could be set to be an explosion of interest heading into 2025.

Crypto Offerings Blew Up During Previous Bull Run

During the last bull market of 2021, crypto sentiment was incredibly high in the mainstream. NFTs, in particular, were the latest hot craze and everyone was talking about them. Indeed, they became so popular that there were even online slot games at Paddy's based on them. NFT Megaways from Red Tiger was one of the top titles that appeared at the time, and the offering is still popular today.

The last bull market was marked by various huge names promoting NFTs and crypto projects, with the likes of Lionel Messi and Ozzy Osbourne both starting their own tokens. Major companies also jumped on the crypto bandwagon, with brands such as Tesla, Nike, Adidas, and Coca-Cola all integrating cryptocurrencies within their business models.

In 2022 when the crypto market began to decline, mainstream interest swiftly dissipated. It's possible to track how much people are talking about the market with online tools such as the Bitcoin Sentiment – Bull & Bear Index. At the time of writing, the tool from Augmento.AI is giving a reading of 0.445 on a scale of zero to one, indicating that the general public is still relatively bearish about cryptocurrencies.

Crypto Market Could Gather Steam Into 2025

Since breaking out into all-time highs earlier in the year, the crypto market has been ranging for months. Some analysts believe that this could be leading up to a turbo bull run in late 2024 heading into 2025. In fact, market expert Raoul Pal predicts that the 'banana zone' is coming and there will be another instance of crypto mania in 2025.

The banana zone that he refers to is when a greater number of retail traders jump into the market and start buying up altcoins. The value of the likes of Ethereum and Solana could surge at this point, leading people to look further down the list at cryptocurrencies that they perceive to be cheaper than the large-cap tokens. These small caps are volatile and can lead to huge price surges, which encourages more people to get involved to try to take advantage of the next potential 10x or 100x.

Picture 1 of Why Aren't Cryptocurrencies Currently Getting More Mainstream Attention? Picture 1 of Why Aren't Cryptocurrencies Currently Getting More Mainstream Attention?

Cryptocurrencies may be relatively quiet in the mainstream at the moment, but this could soon be set to change as the bull market gathers pace into 2025. When more of the general public sees the record-breaking prices of BTC and Ethereum, they are likely to start buying smaller-cap tokens for fear of missing out. When this happens, cryptocurrencies will be getting a lot more attention in the mainstream.

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