Cryptocurrency Interest Wanes — Online Searches for "Bitcoin" Drop 80% – News Bitcoin News


Cryptocurrency Interest Wanes — Online Searches for "Bitcoin" Drop 80%

Over the course of the past few weeks, cryptocurrency prices have been dropping in value. However, online interest is another trend plunging as well within the digital currency realm as Google Trends searches for the word “bitcoin” have descended to levels not seen since October of 2017.

Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

Online Interest in Cryptocurrency Word and Phrase Searches Decline Considerably

According to data from Google Trends and Insights searches for the word “bitcoin” is declining rapidly. The chart dating back to March 2017 is almost identical to the BTC/USD weekly price chart. The same can be said for a variety of popular words that reached peaks at the end of 2017 like the words “ethereum,” “ripple,” and “cryptocurrency.” Google’s data suggest that all of these words including “bitcoin” show searches are down well over 80 percent.

Cryptocurrency Interest Wanes — Online Searches for "Bitcoin" Drop 80%
Word searches for “bitcoin” and “cryptocurrency” drop significantly.

Cryptocurrency Interest Wanes — Online Searches for "Bitcoin" Drop 80%

Right now the countries showing the most interest in bitcoin searches includes South Africa, Slovenia, Australia, the Netherlands, Singapore, Austria, Canada, Switzerland, Ghana, and Norway. Right now the most relatable queries include searches like “Binance,” “ripple price,” “bitcoin bubble burst,” and “bitcoin cash news.” Bitcoin cash (BCH) searches are also meandering at October levels as well, and copious amounts of interest in BCH stems from Bolivia, the Netherlands, and Australia.

Cryptocurrency Interest Wanes — Online Searches for "Bitcoin" Drop 80%
Other popular queries like the words “ethereum” and “ripple” have declined.

Big Volume Countries and Tether Searches Diminish

The biggest trading volumes are coming from areas like Japan and South Korea, but searches are dipping low for these subjects as well. The controversial tether currency saw a lot of searches last year but in March people are not too interested in this subject. However, tether trade volume is through the roof, and the ‘stable’ cryptocurrency captures 12.6 percent of the global trades. Interest over time for bitcoin or cryptocurrency “exchanges” has also declined considerably.

Cryptocurrency Interest Wanes — Online Searches for "Bitcoin" Drop 80%
The top five related queries as of March 8, 2018.

It’s safe to say the price spike last year sparked a lot of attention, but since the price has drifted downwards interest has waned. Last year the word “bitcoin” was the top most searched term. 2018 may be a different story.

What do you think about online cryptocurrency interest taking a nosedive? Let us know what you think about this subject 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, The Netherlands

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Jamie Redman

Jamie Redman is the News Lead at News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about the disruptive protocols emerging today.

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