Google Searches for Bitcoin and Ethereum Hit 18-Month Lows


Public interest in cryptocurrencies continues to hit new lows, as revealed by Google search trends for the two top-ranked digital currencies: “Bitcoin” and “Ethereum.”

Google Trends utilizes numbers to represent search interests that are relative to the highest point on the chart (100) for the given time and region. As of last week, the global frequency of searches for Bitcoin dropped to a value of 8.

This is a value last seen in late April of 2017, meaning that the search interest for Bitcoin now sits at an 18-month low.

Google Trends for Bitcoin

Similarly, this same trend can be found with Ethereum, which has dropped from 72 at the start of January to only 9.

This trend coincides with a drop in investor activity on major crypto exchanges. For example, the trading volume on San Francisco-based cryptocurrency exchange Coinbase has reportedly dropped 83% since hitting all-time highs last January.

However, despite the lack of search and trading interest, researchers are projecting that global trading volume will jump 50% in 2019 and will continue to grow at a 9% CAGR through 2028. This growth will likely require a new wave of mass adoption, which will correlate with a hike in search volume.

While both coins have suffered big losses in 2018, BTC and ETH still make up roughly 65% of AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: “Bitcoin” Google Search Data
Similar:¬†Google Searches for ‚ÄėBitcoin‚Äô Are Down 75% This Year

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts