Bitcoin (BTC)Crypto News

Decline in Retail Interest? Bitcoin Google searches are dropping to annual lows

                                                            Das Interesse des Einzelhandels an der primären Cryptowährung scheint zu schwinden, da die weltweiten Google-Suchen nach Bitcoin auf Jahrestiefststände gefallen sind.  Im Gegensatz dazu nehmen die NFT-Anfragen weiter zu und haben zuletzt ein neues Allzeithoch erreicht.

BTC Google searches on the decline

Google search is usually a good indicator of retail investor preferences and behavior. This is especially true for the cryptocurrency industry. The number of search queries on the world’s largest search engine usually follows the price fluctuations of the constantly volatile digital assets and especially of Bitcoin.

However, it has its exceptions. For example, searches hit an annual high in mid-May after the asset had already hit a high of $ 65,000 and at the time Elon Musk voiced his concerns about energy use and China reiterated its absolute ban on BTC and mining.

The subsequent drop in price was mimicked by a drop in searches before going up during the rally in late October and the launch of the very first futures Bitcoin ETF in the US.

Now, however, the queries have dropped to their lowest point this year. It does so amid BTC’s lack of success in reclaiming $ 50,000. At the same time, searches for “Buy Bitcoin” have also declined and are far from the highs in January and February.

Worldwide Bitcoin Google searches 12 months back. Google Trends

Anyone on NFTs?

While interest in Bitcoin seems to be lacking, non-fungible tokens have played the main role. The industry is arguably the most improved in terms of adoption, investment, new products, and everything in between.

It has seen the entry of countless prominent individuals and companies outside of the cryptocurrency space, from musicians and actors to politicians and athletes.

Since it allows fans to step up their engagement with their favorite stars, it’s no wonder NFT Google searches have been on the up for most of this year. They have only recently hit a new all-time high since Crypto potato reported and have remained at such a high level ever since.
Decline in Retail Interest?  Bitcoin Google searches are dropping to annual lows, Crypto Trading NewsWorldwide NFT Google searches 12 months back. Google trends.

Source: Crypto News Deutsch

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button