TL;DR Breakdown
- More people conduct internet search for crypto
- Nexus between this year and 2017/18 google search for crypto
Despite the sudden crash the entire crypto market experienced on Wednesday, there has been an upsurge in the number of Google searches for cryptocurrencies.
As a matter of fact, the new Google search ATH for crypto is believed to be a result of Wednesday’s dip, which made it catch the attention of many more retail investors.
According to Google trends, the new Google search level for crypto beat its previous ATH recorded in 2017/18 after a similar crash that year.
From analysis by Google on search queries by users, The most significant increases came from “what happened to cryptocurrency today,” which recently saw an 850 percent uptick.
In another twist, “should I sell my crypto” searches in the US alone skyrocketed by 400 percent in the past day.
Among the crypto topics which were searched the most was subjects bordering on the environment. Google trends indicated that “most energy-efficient cryptocurrency” and “environmentally friendly cryptocurrency” became “breakout searches.”
This cannot be unconnected to Elon Musks’ reason for suspending crypto payment for Tesla-made electric vehicles.
Nexus in Google search surge between now and 2017/18
Towards the end of 2017 and early 2018, the crypto market recorded an impressive bull run with BTC tanking to $20,000 and ETH around $1,400.
The increase was all over the news as several retail investors bumped in also until the heavy crash, which lasted for almost a year. While the crash occurred, internet search for crypto went down also.
The market is experiencing a similar thing now, with all coins surging to new ATH and ETH, BNB, and other coins all flying to new highs.
The media has kept an eye on the crypto space, and happenings in the market made more retail investors pay attention to the crypto market.
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