As of the week ending on November 25th, the number of views on YouTube related to cryptocurrencies reached a weekly high of 4.72 million, marking a new record in the past year. This situation may indicate a gradual resurgence of interest among retail investors in cryptocurrencies, highlighting the expanding potential growth space for retail investors in the market.
Leading the viewing trend are the channels Coin Bureau and Crypto Banter, which contribute over one million views each week, making significant contributions to the overall indicator. However, the current 4.72 million views only reach half of the historical peak of 9.3 million views, indicating that the retail market is still in the early stages of recovery.
Multiple indicators of retail participation
The growth of cryptocurrency-related content seems to be positively correlated with the sentiment of retail investors participating in the market. For example, applications such as Phantom Wallet and Coinbase have entered the top 100 in the App Store, indicating that new retail investors are entering the market and their numbers are increasing. Furthermore, Bitcoin breaking the $100,000 mark today (12/5) may further attract the attention of retail investors.
Are retail investors starting to FOMO? How can these indicators be interpreted?
Although the growth in YouTube views is a noteworthy phenomenon, caution must be exercised in its interpretation, taking into account several factors:
Past cycles have shown that the level of involvement in social media may be a lagging indicator of market interest, meaning that people may start watching videos related to cryptocurrencies only after seeing the market’s enthusiasm. Therefore, it would be premature to conclusively state that retail investors have returned to the market, thereby driving up market prices. The current number of views is 50% of the historical peak, indicating that retail investor willingness to participate has not fully recovered to previous levels of fervor. Retail investors may be gradually returning rather than experiencing a sudden surge.