Google Trends: Bitcoin Search Hits The Number of Spring 2017
Bitcoin (BTC) has been gaining popularity around the world ever since it was conceived over ten years ago. While this growth initially only included tech enthusiasts, things changed in 2017, when the entire world became aware of the crypto trend, and its potential to disrupt the financial industry as we know it.
Public curiosity about cryptocurrency and bitcoin has declined bigly over the last year. Google Trends search interest over time for “cryptocurrency,” “bitcoin,” and “bitcoin price” queries is respectively 26%, 36%, and 29% of what it was last March.
As all of our readers probably know by now, mainstream curiosity regarding Bitcoin has waned quite significantly over the past 12-14 months. This has happened because the premier asset has lost over 80% of its value since hitting its all-time high of USD $20K (during December 2017).
Bitcoin’s price seems to be on an increasingly stable equilibrium seeking trajectory in its current paradigm. It’s getting some lift in 2019 out of institutional investing joining the game.
But the kind of exciting movements that we saw bitcoin make in 2017 will require more mass than institutional investing can muster alone.
The term “Bitcoin price” was has seen a lot of searches in South Africa, which holds a value of 100 in this example. It is followed by Australia (80), Singapore (77), Canada (73), the US (71), Ireland (61), the UAE (60), Estonia (57), New Zealand (53), and Malaysia (52).
The term “Sell Bitcoin” also has a lot of similarities with the previous one, with Nigeria once again being the number one country that searches for this term. It is followed by Ghana, Malta, St. Helena, the UAE, South Africa, China, Canada, Australia, and Singapore.
At press time, Bitcoin’s price seems to be heading in a direction of stability. This is because a whole host of institutional investors have recently started to pump in big money into the premier altcoin. However, for Bitcoin to make a financial run that is similar to what was seen in 2017, the masses will have to start entering this burgeoning space soon.