Interest in cryptocurrencies is falling – online searches for “Bitcoin” drop by 80% – News Bitcoin News
Over the past few weeks, cryptocurrency prices have depreciated. However, online interest is another trend that is also collapsing in the digital currency space, as Google Trends searches for the word “Bitcoin” have dropped to levels not seen since October 2017.
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The online interest in word and phrase searches in cryptocurrencies is falling significantly
According to data from Google Trends and Insights, searches for the word “Bitcoin” are falling rapidly. The chart from March 2017 is almost identical to the weekly BTC / USD price chart. The same goes for a variety of popular words that peaked in late 2017, such as the words “ethereum”, “ripple” and “cryptocurrency”. Data from Google suggests that all of these words, including “bitcoin,” show that searches have decreased by well over 80 percent.
Word searches for “Bitcoin” and “cryptocurrency” are falling significantly.
Countries that are currently showing the greatest interest in Bitcoin searches include South Africa, Slovenia, Australia, the Netherlands, Singapore, Austria, Canada, Switzerland, Ghana, and Norway. Search queries like “Binance”, “Wave price”, “Bitcoin bubble burst” and “Bitcoin Cash News” are currently among the best assignable search queries. The search for Bitcoin Cash (BCH) is also meandering at the October level, and the huge interest in BCH is coming from Bolivia, the Netherlands, and Australia.
Other popular searches such as the words “ethereum” and “ripple” have declined.
Large volume countries and tether searches are declining
The largest trading volumes come from areas such as Japan and South Korea, but searches are also falling for these topics. The controversial tether currency was searched a lot last year, but people don’t care about the topic in March. However, the tether trading volume is skyrocketing, and the “stable” cryptocurrency captures 12.6 percent of global trade. Interest in Bitcoin or cryptocurrency “exchanges” has also decreased significantly over time.
Top five related searches as of March 8, 2018.
It’s safe to say that the price spike has attracted a lot of attention over the past year, but since the price has drifted down, interest has waned. In the past year, the word “Bitcoin” was the most searched term. 2018 could be a different story.
What do you think of the decline in interest in online cryptocurrencies? Let us know what you think on this matter in the comments below.
Images via Shutterstock and Google Trends.
Tags in this story
Australia, Austria, Bitcoin, Bitcoin Cash, Bitcoin Japan, Bitcoin South Korea, Canada, Cryptocurrency, Ethereum, Google Trends, Insight, N-Featured, Ripple, Singapore, Slovenia, South Africa, Switzerland, Netherlands
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