Bitcoin's (BTC) November rally, which brought it closer to the psychologically important $100,000 barrier, differs from earlier rallies in 2017 and 2021, which were characterized by greater retail enthusiasm. The current surge is predominantly driven by institutional investors, with retail interest noticeably muted.
Google Trends data highlights the fluctuations in interest over the past month, which peaked at 65 out of 100 on a five-year scale before plummeting from mid-November. This decline in retail activity raises an important question: Is BTC an expensive asset reserved for the rich?
As the chart below shows, retail investors are not ready to buy right now, although they previously fueled early waves of adoption.
Unlike altcoins, which remain accessible due to lower prices, Bitcoin's high price may inadvertently alienate the group of people needed to spread the main cryptocurrency.
One of Bitcoin's greatest strengths is its divisibility. Each Bitcoin consists of 100 million satoshi , which allows for fractional purchases. For example, an investment of $100 would earn the investor approximately 0,00103 BTC at current prices. This is similar to buying gold in grams rather than ounces.
Unfortunately, this fundamental advantage of Bitcoin often goes unnoticed by the average retail investor, many of whom believe that the high price per unit makes it impossible to buy.
Ironically, Bitcoin's appeal to retail traders may be revived once it breaks $100,000. That's because retail investors associate round numbers with safety and growth potential. The same was true when Bitcoin exceeded $10,000 in 2017 and $50,000 in 2021.
