There are platforms that record major statistics to measure interest in cryptocurrencies in the market. One of the most used of these is, of course, Google searches. Altcoins, other than Bitcoin, usually do not attract much attention in the static market. This information can be obtained by reflecting on the data in the search engines. However, since Bitcoin is on the rise, it has become the center of attention and the number of searches in search engines is increasing.
Looking at the search trends that Google shares with its users helps to understand the level of interest in cryptocurrencies and the developments in the crypto industry.
Bitcoin Searches Increased!
Bitcoin searches on Google increased by 33% over the past week and have become the focus of attention for users and anyone interested. In the month we left behind, Bitcoin searches increased by 37% globally.
It is easy to see that people search for Bitcoin more during its peak. Another interesting statistic is that the searches for “bitcoin halving” increase even more as the day of the event approaches. The Bitcoin halving event is less than 100 days left, and searches appear to have increased significantly after the price rise of Bitcoin. These searches can be taken into consideration in determining whether there is FOMO. There are many analysts who can predict the tendency of general interest from these search results.
Search Results of Other Cryptocurrencies
Ethereum, experiencing a great rally in the late 2019 and the first month of 2020, is no different from Bitcoin in terms of searches. Ethereum searches on Google increased due to Ethereum exceeding the $200 level. Ethereum, which rose to $230 in the beginning of February, pleased its users by breaking the resistance levels one by one. Having the third place in terms of total market value, the cryptocurrency, XRP, has also become one of the increasing cryptocurrencies. Although XRP experienced a slight increase in searches on Google, the interest faded quickly.