Mass FOMO is around the corner? Or the hype train is getting delayed?

Hello my fellow bloggers! Today we are going to investigate some social data to see if people are starting to FOMO into crypto or we are not even close to this yet.

Those of you, who are in crypto for more than 3 years, can recall Christmas 2017. Bitcoin was closing to $20k, all mainstream media were covering cryptomarket. Google searches for “How to buy Bitcoin” were skyrocketing. Hundreds of thousands people came into crypto. Exchanges were hardly able to cope up with the traffic. Coins were pumping everyday promising insane gains. Can we see the same again? Let’s check some data.

On the first look, we don’t see any mass FOMO on the chart. The top is just 70% from the previous all-time high. Yet it doesn’t mean people are not coming to cryptomarket. The truth is people don’t need to google “bitcon” any more. Everyone has a friend who invested in bitcoin or at least subscribed on a certain influencer in any social network. We need to check social data before taking any decision. Let’s start with the main data source of this planet – youtube.

The chart shows new weekly YouTube subscriptions of 7 top crypto influencers. According to the chart, these channels get ~89k new follower in a week. Even if you consider that at average a newcomer subscribes at 4 channels it is still more than 22k new potential investors coming to the market on weekly basis. This is not the mass FOMO we are waiting, but it is still a rapid growth of our community.

Current events driven by some smart fellas from Reddit also gave us another metric to view – new weekly crypto subreddit’s subscribers:

This is an insane chart. A week ago more than half a million people joined crypto subreddit. The data for the previous week is not on the chart yet, but we are getting more than 1 million new subscribers there. We can expect a pump because of this. And I’m not talking about Doge or XRP here.

What do you think about current social activity? Will we see spikes on these charts once BTC goes over 50k? Let me know in the comments below!