Follow Us

Crypto Loses the Google Search Game; Drops to Its Lowest since 2020

Share on facebook
Share on twitter
Share on linkedin

Share

Crypto Loses the Google Search Game; Drops to Its Lowest since 2020
Share on facebook
Share on twitter
Share on linkedin

According to Google Trends, crypto has scored 17 out of 100 which is well off its reference point in May 2021. Bitcoin (BTC) and Ethereum (ETH) have followed the same path of the downward fall. 

The Google Trend data shows a significant loss in interest in the term ‘crypto’. The downfall of the term is compared with the previous data of May 2021, which then, revealed the highest level of searches.

Though the loss of interest in the term ‘crypto’ in Google searches can be assumed as the engagement loss with crypto, some crypto experts believe the loss of interest  is related to some other crucial reasons too.

Experts Cites Reasons for the Fall of Crypto Search 

Mike Novogratz, CEO of Galaxy Digital, stated the reason for the fall which can be due to the steady Bitcoin price at around $28,000 for 10 weeks now. He describes this as lackadaisical, and believes it is due to the lack of institutional excitement. The main reason for this loss of interest in crypto is associated with Bitcoin’s neutral behavior. 

Guy Turner, better known as Coin Bureau Guy, revealed in a Twitter post on June 4 that this fall is due to lower trading volumes in the crypto exchanges. He claims that the fall has reached a 32-month low, last month.

Justin Chapman, Northern Trust’s Head of Digital Assets and Financial Markets, said institutional investors lost interest in crypto after 2022, and even with this year’s uptrend, their appetite for it hasn’t come back yet.

Crypto Fear and Greed Index tells the same story that the market sentiments are fluctuating. The current score is 53 which is considered the neutral zone, and searches have been in this zone for a month now. 

Persistent Decline in Crypto Search in May

Consistent decline in the rate of interest was seen in May 2022. This decline started after a month of the Terra Luna Ecosystem collapse. However, a rise in interest was seen in November with the collapse of crypto exchange, FTX.

Overall, it is observed that there is no such decline in interest in every domain related to crypto. The search volume for decentralized finance and DeFi has seen an increase in 2023.

The highest search results for crypto comes from Nigeria while the lowest searches for this keyword comes from South American countries. Currently, the search for artificial intelligence (AI) is reaching new heights.

Leave a Reply

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

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00