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crypto google trends search bitcoin
Nexo Logo

Crypto Is Up Over 80% in 2020—and Google Users Are Taking Notice

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news, Technical analysis
Reading Time: 3 mins read
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The cryptocurrency market is on fire again, after spending several years locked in a cold and painful crypto winter. Bears came out of hibernation and swatted down valuations, and with it, interest plummeted.

But with a new dawn here, search interest in the asset class is suddenly springing up once again according to Google Trends metrics.

How Google Trends Can Inform Investor Decision Making

Google Trends provides a visual measurement of specific terms or queries over a specific time range. It allows data analysts, publishers, investors, and more to inform decision making based on how certain terms are trending.

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Any upticks in measurements represent a growing interest in the term, due to a sudden abundance of search queries on the topic. An event, news, or otherwise typically triggers a trend to begin, prompting others to catch wind, become curious, and head to Google to learn more.

Related Reading | How Crypto Company IPOs Could Incite Retail Investor FOMO

In 2017, back when very few had ever heard of Bitcoin or crypto, the sudden wealth generated by the mysterious asset class piqued widespread retail curiosity. As valuations climbed, curiosity turned into full-blown FOMO.

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Coinciding with all of this, was a surge in Google searches for the term “crypto’ according to Google Trends. The bubble eventually burst, and valuations came crashing down. And just like on the way up, Google Trends also declined when prices plummeted.

However, after the asset class growing over 80% in market cap in 2020 alone, Google users and investors, are simultaneously taking notice.

crypto google trends bitcoin search term

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Total Crypto Market Cap Versus Google Trends Search Queries For "Crypto" | Source: TradingView & Google Trends

Crypto Climbs To Highest Level Since Bubble In Key Search Metric

An updated measurement of the search term “crypto” on Google Trends shows the first new higher high set since 2019. It is also the highest point in terms of search volume since the bubble burst in 2018.

In the comparison chart above, the total cryptocurrency market cap matches along well with the Google Trends chart. A large peak is visible upfront before the bubble burst.

Searches for the term were next to nonexistent prior to the bubble. They were also mostly abysmal following the bubble bursting, until now.

Related Reading | Chartered Market Technician Claims Crypto Poised For Strong Uptrend

But why the sudden change? The crypto market is finally done with its bear trend and is breaking up and through resistance levels proven previously unbreakable for a year or more.

It has allowed valuations to climb across the total crypto market cap by over 80% and then some. Bitcoin is once again the talk of the finance world alongside gold, and altcoins everywhere are being compared to silver and are soaring just as high.

Money being made and hype returning have people wanting to learn more about crypto once again. If the trend can sustain, it could lead to healthy growth this time around, or perhaps yet another major bubble and blip on the Google Trends chart.

Tags: altcoinbtcusdBTCUSDTcryptoCRYPTOCAP-TOTALgooglegoogle trendstotal crypto market captotal cryptocurrency market cap
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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