{"id":52752,"date":"2023-06-06T03:48:29","date_gmt":"2023-06-06T03:48:29","guid":{"rendered":"https:\/\/egrowonline.com\/?p=52752"},"modified":"2023-06-06T03:48:29","modified_gmt":"2023-06-06T03:48:29","slug":"google-searches-for-crypto-fall-to-2020-levels-as-btc-sentiment-neutral","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=52752","title":{"rendered":"Google searches for \u2018crypto\u2019 fall to 2020 levels as BTC sentiment neutral"},"content":{"rendered":"


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A two-month-long lull in cryptocurrency optimism has seen online search interest for \u201ccrypto\u201d and other common cryptocurrency terms stumble down to late 2020 levels.<\/p>\n

According to data from Google Trends, the term \u201ccrypto\u201d currently has a score of 17, which is well off its reference point of 100 in May 2021. Bitcoin (BTC<\/a>)\u00a0and Ethereum\u00a0have followed a similar downward trajectory. <\/p>\n

However, search interest for these terms has been in a relatively consistent decline since May 2022, about a month after much of the Terra Luna ecosystem collapsed. A small spike in interest came in early November\u00a0when the crypto exchange FTX collapsed<\/a>.<\/a><\/p>\n

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Search interest over time for the word “crypto” Source: Google Trends<\/em><\/figcaption><\/figure>\n

The fall in interest comes as Bitcoin has held steady at around $28,000 for 10 weeks now \u2014 price action that Galaxy Digital CEO Mike Novogratz recently described<\/a> as \u201clackadaisical\u201d and caused by a lack of \u201cinstitutional excitement right now.\u201d<\/p>\n

Guy Turner, commonly known as \u201cCoin Bureau Guy,\u201d suggested in a June 4 Twitter post that the fall in interest also coincides with lower trading volumes<\/a> on exchanges, which he claims to have reached a 32-month low last month: <\/p>\n

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“Crypto” search trends are at the lowest point they have been since December 2020. <\/p>\n

This also corresponds to exchange volumes which were at 32 month lows this past May. <\/p>\n

Apathy? pic.twitter.com\/UPOmhNGeDN<\/a><\/p>\n

\u2014 Coin Bureau (@coinbureau) June 4, 2023<\/a><\/p><\/blockquote>\n

Alternative\u2019s<\/a> Crypto Fear & Greed Index tells a similar story too, with market sentiment hovering around its current score of 53 \u2014 in the \u201cNeutral\u201d zone \u2014 for nearly a month now.<\/p>\n

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Fear & Greed Index measuring changes in sentiment in the crypto market. Source: Alternative.me<\/em><\/figcaption><\/figure>\n

Interest hasn\u2019t dipped in every domain of crypto though.<\/p>\n

Search volumes for \u201cdecentralized finance\u201d and \u201cdefi\u201d have managed to increase in 2023, while searches for \u201cmemecoin\u201d reached a peak in early May.<\/p>\n

Related: <\/strong>Institutions \u2018extremely interested\u2019 in crypto ETFs, but buying has cooled: Survey<\/strong><\/a><\/em><\/p>\n

Nigeria currently holds the highest score for most crypto-related searches, while many of the lowest scores come from South American countries. <\/p>\n

On the other hand, search interest for artificial intelligence continues to skyrocket,<\/a> which many believe is the latest \u201ctech fad.\u201d<\/p>\n

Magazine: <\/strong>Crypto winter can take a toll on hodlers\u2019 mental health<\/strong><\/a><\/em><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A two-month-long lull in cryptocurrency optimism has seen online search interest for \u201ccrypto\u201d and other common cryptocurrency terms stumble down to late 2020 levels. According to data from Google Trends, the term \u201ccrypto\u201d currently has a score of 17, which is well off its reference point of 100 in May 2021. Bitcoin (BTC)\u00a0and Ethereum\u00a0have followed […]<\/p>\n","protected":false},"author":1,"featured_media":52753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[194,62,951,1098,977,4493,1200,1691],"class_list":["post-52752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-btc","tag-crypto","tag-fall","tag-google","tag-levels","tag-neutral","tag-searches","tag-sentiment"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/06\/ef8a8ae4-7e1f-4b00-bff4-09e8ca7ea46f.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/52752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52752"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/52752\/revisions"}],"predecessor-version":[{"id":52754,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/52752\/revisions\/52754"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/52753"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52752"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}