Category Archives: Google trends

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Google Data Suggests New Bitcoin Moon

Google Data Suggests New Bitcoin Moon

As reported by BitcoinNews.com earlier, global online search interest for Bitcoin has been rising incrementally since the turn of the year. But now, with Bitcoin peaking to hit consecutive new heights this year, Google Trends data is suggesting that a new phase of “Bitcoin to the moon” could be in the sights.

Bitcoin has already set a milestone back in May when it hit its highest interest levels on Google since February 2018, when Bitcoin’s year-long decline began. By June, even with price flagging, the world’s most popular crypto had even become more popular than President Trump and the Kardashians. Some say this popularity is what prompted Google to tweak its search engine algorithm, causing Bitcoin media sites like CCN.com to announce their shutdown (it did prove to be a premature call in the end).

But now, the same CCN.com is saying that with Bitcoin interest rated at 12 (out of a possible 100), the level of retail interest today is a far cry from the 100 rating it achieved in 2017, with virtually every economy in the world reporting about Bitcoin’s incredible run, prompting major FOMO and people desperately buying their share of coin.

The following decline, conversely, led to despair among the masses and a sharp drop in interest.

Grayscale’s comments also backed up this theory, that retail investors were still out of the game:

“Institutional investors comprised the highest percentage of total demand for Grayscale products in the first quarter (73%). This was also consistent with their share of inflows over the trailing twelve months (73%). As we have mentioned in previous reports, many institutional investors may view the current drawdown as an attractive entry point to add to their core positions in digital assets.”

Lest we forget, it was pretty much retail investors who drove the price upwards in the last bull run, and they may very well be the same ones doing it to Bitcoin again this time… as soon as they finally decide the time is right.

 

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Google Trends Show Bitcoin More Popular Than Trump, Kardashians

Google Trends Show Bitcoin More Popular Than Trump, Kardashians

It can be hard to imagine that there are more popular topics than the main headlines in politics and entertainment, but the hard numbers prove that Bitcoin is, in fact, more popular than US President Donald Trump and American glamour girl Kim Kardashian.

That is, according to Google Trends today, anyway. The statistical analysis shows that the specific term “Bitcoin” is one of the leading ones on the world’s most used search engine, consistently outperforming other popular terms over the past few years. Google also finds that people prefer to use the term “crypto” rather than “cryptocurrency” when searching for it online.

Information published in a company blog by blockchain enterprise solutions for Ethereum, ConsenSys, provides undisputed data to show that “Bitcoin” is in fact more frequently looked up on Google than other globally popular terms.

Apparently, “Donald Trump” and “Bitcoin” have been locked in a head-to-head battle for dominance over the past year, but the 2019 rally in recent months have seen the latter come out on top. It suggests that rising Bitcoin prices bring about a natural curiosity and inclination for people to come online and Google the digital asset. It backs up the theory held by many that when prices rise, so does interest, and it happens in a cyclical fashion.

Google Trends shows that other terms popular in tech such as “Tesla” and in entertainment such as “Kim Kardashian” were also included in ConsenSys’s comparison. Bitcoin has finally reached parity with Tesla after playing second fiddle for 12 months, but the Kardashian has never been able to pip Bitcoin.

Bitcoin News also ran a report recently that showed that interest in Bitcoin on Google had hit its highest levels since February 2018, when the Bitcoin price was at the beginning of its long decline last year.

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Bitcoin Interest on Google at Highest since February 2018

Bitcoin Interest on Google at Highest since February 2018

Bitcoin’s unexpected rally in 2019, after over a year of bearish sentiment, has got people moving into “fear of mission out” (FOMO) mode, apparently, and Google seems to agree. Recent data from Google Trends, published on Crypto Globe, shows that search interest for Bitcoin has hit its highest level since February 2018, the period when the bear market seemed firmly set in motion.

Google trend data for the search keyword “Bitcoin” shows that the levels of interest today are the highest ever seen since February 2018. Coincidentally, Bitcoin had been trading at around USD 8,000 at the time, after dropping from USD 11,000. Today, Bitcoin trades at around USD 7,950 after only months ago meandering around USD 4,000.

Search interest in Bitcoin and other cryptocurrency related keywords generally correspond with the price of these digital assets. During the bear market of 2018 and early 2019, interest was dropping off along with search trends, compared to highest-ever numbers running up to the bull run of 2017.

South Africa leads in terms of most inerest, followed by the Netherlands, Slovenia, Austria, and Nigeria. Binance has also enjoyed a lot of interest.

In China, giant search engine Baidu is showing similar trends, with local news source cnLedger showing BTC as among Baidu’s hottest emerging keywords.

Due to the recent price surge, #bitcoin tops today’s Baidu hottest emerging keywords. (Baidu is like China’s Google) pic.twitter.com/AWtVw9aOzw

— cnLedger (@cnLedger) April 4, 2019

 

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