Google Searches For Bitcoin Jump To 8-Month High
Bitcoin is in a really bad situation as the bear market shows its claws once more, but it looks like sites that report on the subject will see an increase in their visitors exactly because of that. In a move that might be seen as strange at first but ends up making total sense in the long run, the more the prices drop, the more people need to be informed about what will happen.
Google Trends has shown that the “bitcoin” word is being searched a lot. In fact, now it is being searched almost 100% more than it was two weeks ago. With all the uncertainty that the bear market brings, people want to be informed.
Now, we are seeing a 13-month low in prices and an 8-month high in searches. The interest in the asset was declining steadily over time. The last peak was on February 4 and then it only went down as you can here in Google Trends.
18-Month Low Was Hit Soon Before The New Trend Began
As you could see in the Google Trends chart, the interest in Bitcoin has declined at levels that were as low as of April 2017. After hitting the bottom, however, the bear market pushed the trends up again.
The interest in the asset spiked at the same time as the bubble began last year and its drop has coincided with the drop in investor activity. However, now, it looks like the people who were holding Bitcoin are basically trying to understand whether they should liquidate their assets for good or if they should keep on holding onto them.