Bitcoin searches decrease
It seems that Bitcoin is losing more than just its market value on the global scale.
As the bitcoin level of interest decreases, so goes bitcoin searches on Google as well, bitcoin searches were recorded to be at their lowest since October 2017 on Google Trends, a platform which records user interest on search terms and topics.
bitcoin searches see their lowest in 6 months
According to Google, the surge in Bitcoin related searches had reached its all-time high in December, when the world’s first cryptocurrency had been reaching and running past unprecedented milestones, such as touching the never seen before value of $20,000.
Google Trends shows that during that time, the term “bitcoin” had reached its peak interest with “100”, denoting high interest levels, the highest interest level that a search term can hold during its lifetime.
Back i March 2018, we reported the current trends showed the level of interest had dropped to “19”, indicating things were not looking too good for Bitcoin’s mainstream popularity.
At that time, the Bitcoin price was sitting around $9,000. Google Trend data for the present day (17th September 2018) shows that the level of interest has dropped to just 8 compared to the 100 seen in December. That means Google search volume for bitcoin is down over 90%.
It goes on to show that Bitcoin is slowly losing its popularity amongst the masses, and if it does not get to pick up in value soon and show its worth to the world, then it might fade into the same level of obscurity that it had been in before the last two months of 2017, at least for the time being.
In regards to bitcoin searches and bitcoin level of interest
This begs the question is it the price of bitcoin that drives bitcoin searches and interest in bitcoin or is it more that public interest in bitcoin and other cryptocurrencies raise the price of the bitcoin and other cryptocurrencies? If December provided any clues it may be showing that it is the price of bitcoin and the continous coverage by media channels like CNBC and others on the rise in prices that raised the interest from the general population. Will the bitcoin level of interest rise as this year progresses and we potentially see higher prices, reaching all time highs ?
Google news besides bitcoin searches
Google has been one of the tech giants, in addition to SNAP inc and Facebook’s ban on ICO ads. The social media and advertising giants are doing so to make sure that they are keeping their platforms clean and they are able to create a better user experience overall. Furthermore, the search giant is working on getting into the blockchain industry as well as it is looking to utilize the technology in a complementary light to its cloud businesses in general.
According to Bloomberg, their parent company is creating its own form of distributed ledger technology:
“The Alphabet Inc. unit is developing its own distributed digital ledger that third parties can use to post and verify transactions, one of the people said. Although the timing of any product release is unclear, the company plans to offer this to differentiate its cloud service from rivals. It will also provide a white-label version that other companies can run on their own servers, the person added.”
The company is also looking to be very active in the market as it has gone on a shopping spree as in regards to the purchases of DLT based companies.
“Google has also been acquiring and investing in startups with digital ledger expertise.”