Retail interest dwindled in the following two months when bitcoin was stuck in a $50,000 to $60,000 range. Search queries typically rise when the price volatility is high and existing, and potential investors search for information regarding the ongoing bullish/bearish market action.įor example, the Google search value spiked from single digits to over 60 in the three months to early January as bitcoin surged from $10,000 to $40,000. The cryptocurrency’s two-month-long dull price action between $30,000 and $40,000 seems to have driven away retail interest, which surged earlier this year. Related: Market Wrap: Bitcoin Slides Toward $30K, Looks ‘Fragile’ Google Trends provides access to a mostly unfiltered sample of actual search requests made to Google and scales their searches on a range of 0 to 100, according to the company. That’s the lowest reading since December and marks a significant decline from the peak of 86 observed two months ago. Google Trends, a widely used tool to gauge general interest in trending topics, is currently returning a value of 19 for the worldwide search query “bitcoin price” over the past five years. Web search data shows the general populace has lost interest in bitcoin thanks to the usually volatile cryptocurrency going silent in recent weeks.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |