Google Searches For ‘Bitcoin’ Slump In Synchronicity With Bitcoin’s Price
After the February’s crypto market slump that brought Bitcoin (BTC) below $7000, the number of Google searches for “Bitcoin” has dropped to the lowest levels since October of last year.
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Google Trends shows that searches for “Bitcoin” were the most popular between December 17-23, coinciding with Bitcoin’s price rising to above $20,000 for the first time on December 17, 2017.
However, since mid-February, searches for “Bitcoin” have gone downhill, leaving the search term with a score of 19 for the first half of March — meaning that the search is only a 19th as popular as it was in December at its peak.
According to Google Trends, “Bitcoin” had a score of 19 in the first week of October 2017, when its price was around $4300 according to data from CoinMarketCap.
Reports that a former Mt. Gox trustee had sold $400 mln worth of BTC over a period from December through February suggest that BTC’s continuing slump and this large sell off are connected.
For future viewers: price of bitcoin at the moment of posting is 9212.00USD
very distinct correlation, i guess you could tie this to how powerful the media is to
For future viewers: price of bitcoin at the moment of posting is 9221.40USD