{"id":411414,"date":"2020-01-17T17:30:50","date_gmt":"2020-01-17T17:30:50","guid":{"rendered":"https:\/\/wncen.com\/?p=411414"},"modified":"2020-01-17T17:33:45","modified_gmt":"2020-01-17T17:33:45","slug":"despite-bitcoin-price-surging-google-search-volume-is-trending-down","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/despite-bitcoin-price-surging-google-search-volume-is-trending-down\/","title":{"rendered":"Despite Bitcoin Price Surging, Google Search Volume Is Trending Down"},"content":{"rendered":"

During the crypto hype bubble that rocketed Bitcoin<\/a> and Ethereum into the public eye, making them household names and causing their values to reach all-time highs, the surge in prices was accompanied by a surge in search interest of people scrambling to find out what all the fuss was about, and to learn more about the emerging asset class.<\/p>\n

But with this latest rally, many cryptocurrencies are up over 250% in the last 30 days<\/a>, with even Bitcoin surging to local highs after an extended downtrend may have come to an end. However, unlike previous rallies, the rise in prices isn’t being followed by a rise in Google Search volume. Trading volumes also haven’t seen an uptick, causing many top crypto analysts to question if this recent rally really is a reversal out of the bear market.<\/p>\n

Lagging Google Search Volumes Suggests Bitcoin Reversal Won’t Stick<\/h2>\n

If you’ve at all been following crypto for the last few years, then you no doubt recall the FOMO effect that swept the mainstream public, fueled by a media frenzy and Bitcoin’s meteoric rise to $20,000.<\/p>\n

As people first heard of Bitcoin<\/a> and crypto, the flocked to Google to learn more about the emerging asset class and disruptive financial technologies. Google Search volume for Bitcoin price spiked, reaching an all-time high right alongside the asset’s price in late 2017.<\/p>\n

Related Reading | Blind Bitcoin Bias Gives Crypto Technical Analysis a Bad Rap\u00a0<\/a><\/strong><\/em><\/p>\n

However, as search interest and volumes peaked, so did prices, causing the leading cryptocurrency by market cap to fall into a two-year-long bear market and a downtrend that saw losses of as much as 85% at the low. Other crypto assets across the altcoin space, suffered even greater losses of 99% at extremes.<\/p>\n

But this week, the crypto market has lit up once again, witnessing gains of a few hundred percent in some cases, reviving memories of the bull run that once was and causing deja vu in those that lived it<\/a>.<\/p>\n

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https:\/\/t.co\/JhMTlE2zA1<\/a>: Google Trend for "Bitcoin" search…not even a blip up but rather DOWN!<\/p>\n

IF this was the reversal, shouldn't there at least be an uptick? pic.twitter.com\/kPlaCna5kR<\/a><\/p>\n

— Haejin (@Haejin_Crypto) January 15, 2020<\/a><\/p><\/blockquote>\n