Bitcoin Price Recaptures 50% of All-Time High, But Google Search Remains Stagnant

Tony "The Bull" Severino

6 years ago

3 mins read

bitcoin altcoins alt season google trends

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In the fourth and final quarter of 2017, Bitcoin price grew rapidly due to increase public awareness and interest, and so did search queries related to the crypto asset as people attempted to get up to speed on the emerging financial technology. But as the crypto hype bubble popped, interest waned significantly and along with it, Google search queries about the first every cryptocurrency plummeted almost as fast at crypto prices did across the market.

However, in recent weeks, the bullish sentiment has been revived and Bitcoin price has gone parabolic once again. Unfortunately, though, Google search interest has barely moved relative to the rise seen back in 2017. Although there are some additional factors this time around that might be preventing Google search from trending up much further from here.

Google Search for #1 Crypto Barely Moves With Recent Price Action

Bitcoin has reached nearly 50% of its previous all-time high price of $20,000 set back in December 2017, however, Google searches for the keyword have yet to make up any lost ground.

In fact, according to one crypto asset analyst, Google search interest for Bitcoin is only at 10% of its all-time high, meanwhile, price is sitting somewhere closer to roughly 45%.

While Bitcoin's price is at 45% of its all time high, the relative Google search interest for "Bitcoin" is only at 10% of its all time high. https://t.co/BLtKQIo5Rj

— Yassine Elmandjra (@yassineARK) May 28, 2019

A few months back, search queries for altcoins on Google Trends began spiking upward, which many assumed to be a signal that an “alt season” was upon us. But instead, altcoins fell to new lows relative to their BTC trading pairs.

Increased Bitcoin Awareness Means Less Curiosity and Search Interest

The reason for the lack of gains in Bitcoin related search terms following such a powerful bullish rally isn’t necessarily a bad thing for the cryptocurrency created by Satoshi Nakamoto.

It could indicate that Bitcoin has a lot further to go before peak hype returns, and alternatively, the fact that Bitcoin has become such a commonplace, household term – even being added to the Scrabble official word list, and being an answer on the hit television show Jeopardy – could simply mean that far more people know what the asset is and don’t have to search for it anymore to find out what others are talking about.

Since Bitcoin’s meteoric rise in 2017 that captured the public eye, the cryptocurrency has made substantial fundamental progress and taken huge strides towards real world adoption. Bitcoin is now associated with brands like AT&T, Starbucks, Square, and even something as simple, common, and likely overlooked as being added to Coinstar machines in grocery stores has significant impact on the cryptocurrency’s awareness. The lack of a spike in Google searches is probably the best sign yet that Bitcoin is here to stay.

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Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.