r/Bitcoin, the most popular Bitcoin community on Reddit, now has more members than r/sex. The popular Bitcoin Reddit is also larger than r/Design, r/DeepIntoYouTube, and r/JusticeServed. It is the 198th most popular community on Reddit. R/Bitcoin has been growing steadily since Bitcoin's 2017 bull run, and despite the bear market, has been able to add users on a regular basis. The most popular post on r/Bitcoin was written when Bitcoin prices first rose above $10,000, which happened in 2017. While the rise above $10,000 in 2017 was volatile, Bitcoin prices have been trading above that level consistently over the past few months, which some analysts say could be a sign of a larger move to the upside.
Why it matters: Bitcoin is likely in the early phases of a new bull market. With wider buying at both a retail and institutional level, it isn't difficult to see how prices may rise on a sustained basis. Basically every major economy is using freshly made fiat currency to support their nations, which will help crypto prices over the next decade. There is little doubt that central banks will have to expand their efforts to support national economies via even larger money creation, which is likely to result in strong inflation. It is much easier to buy and use cryptos now than it was in 2017, and that will help people to enter the market, regardless of steepening prices.
