Bitcoin (available on Coinbase) News: Bitcoin (available on Coinbase) (BTC) obsession has been declining at a staggering pace since the start of this year; the largest coin couldn’t sustain trader’s attention and the confidence that it had attained in the final quarter of last year.

Cryptocurrency market analysts are blaming declining trader’s interest for the bearish trend over the last couple of months. They believe Bitcoin (available on Coinbase) needs substantial fundamental support to rebuild trader’s confidence, either from its network or through Wall Street investments.

Declining Bitcoin (available on Coinbase) Searches Isn’t a Good Sign

Searches for Bitcoin (available on Coinbase) plunged almost 75% since the start of this year – which isn’t a good sign for the price performance of crypto coins. Searches for Ethereum (available on Coinbase) (ETH) and Ripple (available on Binance) (XRP) are also down more than 70% in the past five months.

Nicholas Colas, co-founder of DataTrek Research, has shown his concerns on declining trader attention towards Bitcoin (available on Coinbase) and other digital currencies.

The researcher said, “We use Google Trends to track search queries for ‘Bitcoin (available on Coinbase)’ as a proxy for potential new buyers,” Colas said in an email to clients Monday. “Bitcoin (available on Coinbase) needs a new narrative in order to reestablish global attention.”

What Would Be the New Narrative

Nicholas Colas is certainly right about the cryptocurrency markets. Bitcoin (available on Coinbase) and the rest of the digital currencies failed to gain traders attention amid the lack of fundamental support.

The co-founder of DataTrek Research further claims that he loves Bitcoin (available on Coinbase); saying “While we love the idea of Bitcoin (available on Coinbase) (and own a little ourselves), we are not fans of buying it at current levels.”