Apparently, "Bitcoin" Is Trending Again On Google Searches
Whenever Bitcoin is getting a surge in price, something happens also in the Google search area - usually there is an increase in interest. While correlation doesn't necessarily implies causation, this is a thing, and an important metric which can be used to evaluate overall interest for the crypto market.
If you look at Google trend data for the term "Bitcoin", you get this nice chart for the last 90 days:
As you can see, there was a dramatic surge in interest a couple of days ago, when Bitcoin suddenly crossed above $5,000.
But we would be biased if we wouldn't have a look at the bigger picture too, in this case, at the chart for the last 12 months, not only for the 90 days. And here's how this chart is looking:
So, although the recent spike is abrupt, indicating a solid interest for the topic, it doesn't even match the volume of queries logged around November last year. And, compared with the beginning of 2018, is just at 75%.
But even in these circumstances, I find this increase in interest relevant, which may help a lot with a better understanding of the phenomenon. Big steps have been made during the last year, but we're still very far away from a relevant adoption of crypto, so every spike is to be appreciated and cherished, when it happens.
Steem on!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Whenever there is a huge increase in the price of bitcoin millions of people will be interested in investing into crypto markets especially bitcoin , because they see bitcoin spike in price as the fastest way to make money for their investment
I just hope that in the near future Steem will gain the reputation that should have... a near future where the market is not going to be so dictated by the fluctuation of Bitcoin!
Like you mention... all we have to do till then is to Steem On!
of course as soon as there is a spike in price that is why I always laugh at all these new places reporting crypto is dead because searches are down etc it has NOTHING to do with that at all.
now let's see steem get trending..😎👍
Every spike brings new people in, so the growth is there, it just might be slow.
I also believe that the increase in bitcoin generates more interest, but definitely all this is very good for all our cryptocurrencies.
Google trends is one of the best indicators!
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people are so delusional, living miles away from what is realistic
personally I hope this is a dead cat bounce simply because I want more time to build by stash