Bitcoin, Ethereum Google Searches Plunge 83% Since 2021
Searches for 'bitcoin' and 'ethereum' have plummeted by as much as 83% since highs in 2021, according to Google Trends data. After reaching an all-time high of 100 in early May 2021, Ethereum-related searches have declined to 17, while for Bitcoin the decline has been 79% over the same period.
Search volumes for both cryptocurrencies are at their lowest levels since late 2020, coinciding with an ongoing bear market that has seen the price of each coin decline by between 65% and 70% since record highs posted last November. The low levels also come at a time when Ethereum is about to complete its long-awaited Merge, which appears not to have resuscitated public interest in cryptocurrencies.
Google does update how it collects and records data, so direct comparisons of volumes across the past few years aren't 100% reliable. Nonetheless, the available data paints a bleak picture for the cryptocurrency market, insofar as it suggests a lack of interest from retail investors and traders.
Other social data corroborate Googles figures to varying extents. According to BitInfoCharts, tweets per day on the subject of Bitcoin have dropped from as many as 363,000 in May 2021, to just over 100,000 now. Something similar applies to Ethereum, which saw a peak of 136,000 in March of this year, only for numbers to decline to around 40,000.
Such info indicates not so much a collapse in public interest as a gradual waning. That said, a closer reading of tweets data, for instance, shows a partial recovery in the past few months.
In the case of Ethereum, its tweets per day sank as low as 20,000 in July, only to more than double in a couple of months. On the other hand, Bitcoin has seen more or less a continuous decline since March.
This all coincides
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