Google users are 83% less interested in cryptocurrencies

According to Google Trends, the number of searches for «bitcoin» and «ethereum» has dropped by 83% compared to its peak in 2021, which means that Google users are obviously much less interested in cryptocurrencies.

The Google Trend #Bitcoin interest is approaching bear market level.

You can use the Google Trends tool as a macro indicator. pic.twitter.com/ItxaXvGGiR

— CrypTomas (@CrypToomas) September 8, 2022

According to analysts, users' interest in cryptocurrencies coincides with the market situation: when digital assets fall in price, the number of search queries about them also decreases, and when cryptocurrencies rise, users start to Google information about them with double interest. Given the prolonged bear market, Google searches for bitcoin and ethereum are at their lowest level since 2021.

It is worth noting that users are increasingly thinking about the death of bitcoin when searching for such information on Google. At the end of June, the crash in bitcoin prices revived new speculations about the demise of the leading cryptocurrency according to Google search trends. on June 18, the number of Google searches for «bitcoin is dead» increased sharply and probably reached the highest level in the history of observations.

However, it is worth noting that today bitcoin managed to return to two-week highs, rising by 7.88% in 24 hours. As for ethereum, it also managed to increase in value, with the price of ETH rising by 5.26%.

As a reminder, September 6−7, 2022, was the worst day for bitcoin, which set an anti-record for the first time since December 2020. on September 7, ETH was trading for $ 18,776, when the price of most digital assets fell along with the value of bitcoin, and the total market capitalization dropped to $ 935 billion.