Kofi Mensah Google Trends reports indicate that global curiosity around “bitcoin” has crashed to its lowest level since October 2022, displaying a meager score of 17 out of 100. This key term’s active interest has been on a downward trend since June 2022, when the bitcoin search query reached a high of 64 out of 100.
Worldwide Bitcoin Search Interest Drops by Over 73% in Less Than a Year
Interest in Bitcoin has fallen to an all-time low since October 2022, as recent Google Trends data shows. During the week of June 5 to 11, 2022, the search term “bitcoin” reached a low of 25 out of 100. However, the following week, from June 12 to 18, 2022, the term surged to 64. In less than a year, interest has dropped by more than 73%, hitting a low of 17 during the week of May 28 to June 3, 2023. The last time bitcoin interest hit such levels was in October 2020, prior to the October 2022 trough of 16.
From October 25 to 31, 2020, “bitcoin” achieved a score of 18, while the previous week it stood at 16. Meanwhile, Bitcoin’s price began to climb towards the record high reached in November 2021, with search interest mirroring this ascent. From October 2020, the term shot up to 85 out of 100. During the week of May 16 to 22, 2021, the term even reached a peak score of 100.
The cryptocurrency scene has since experienced a significant shift, with Bitcoin and other digital assets facing a drawn-out crypto winter. Although Bitcoin’s price has recovered somewhat since the end of 2022, interest remains subdued. In December 2022, Bitcoin was trading at $17,000 per unit, but Google Trends data shows that the score has not dropped below 18 since then. Currently, El Salvador, where Bitcoin is considered legal tender, shows the highest interest in bitcoin searches.
Following El Salvador in 2023 Bitcoin interest are Nigeria, Switzerland, Netherlands, Austria, Slovenia, Germany, and Turkey. Despite the global score of 17 for internet searches, the pursuit of Bitcoin news is even bleaker, scoring a dismal 9 out of 100 during the week of May 28 to June 3, 2023. Interestingly, the Netherlands stands out as a hub of interest in Bitcoin news searches, with El Salvador coming in fifth.
Even with the low overall web searches and even fewer news searches about Bitcoin, 2023 has been a year of significant milestones for Bitcoin. Bitcoin recently confirmed a record number of daily transactions, which also resulted in a backlog and higher transaction fees.
In May, Bitcoin’s hashrate almost reached an unprecedented 500 exahash per second (EH/s). Additionally, there has been a surge in unique on-chain inscriptions, and Bitcoin has become the second-largest network for NFT sales, behind only Ethereum. In comparison, gold had a search volume score of 68 last week, while Ethereum’s score was 2.
We’d love to hear your thoughts on this current decrease in Bitcoin interest. Do you anticipate a resurgence? Please share your thoughts and views on this topic in the comment section below.
Table Of Contents
Frequently Asked Questions (FAQs) about Bitcoin Interest Trends
What is the current interest in Bitcoin according to Google Trends?
The current interest in Bitcoin, as per Google Trends, has plummeted to its lowest level since October 2022, with a score of 17 out of 100. This is a significant decrease from June 2022, when the search query for Bitcoin reached a score of 64 out of 100.
Has the interest in Bitcoin been this low before?
Yes, the last time interest in Bitcoin was at this level was in October 2020 and later in October 2022. This information is based on the Google Trends score, which hit lows of 16 and 17 respectively during those periods.
What countries currently show the highest interest in Bitcoin?
El Salvador leads the pack in terms of Bitcoin interest in 2023, according to Google Trends. This is followed by Nigeria, Switzerland, Netherlands, Austria, Slovenia, Germany, and Turkey.
Is the search for Bitcoin news also declining?
Yes, the search for Bitcoin news is even more dismal, scoring a mere 9 out of 100 during the week of May 28 to June 3, 2023. However, the Netherlands appears to have a relatively high interest in Bitcoin news searches.
Despite the low interest, how is Bitcoin performing?
Despite the low search interest, Bitcoin has achieved significant milestones in 2023. It has confirmed a record number of daily transactions, which has, however, led to a backlog and increased transaction fees. Also, Bitcoin’s hashrate reached an all-time high, almost hitting the 500 exahash per second (EH/s) mark in May. Additionally, Bitcoin has become the second-largest network for NFT sales, trailing only behind Ethereum.
More about Bitcoin Interest Trends
- Google Trends
- Bitcoin Historical Price Data
- Bitcoin’s Transaction Record
- Bitcoin’s Hashrate Data
- Information about NFT Sales
9 comments
Wow, never thought I’d see Bitcoin interest drop so low. Think this is a temporary dip or are we looking at a longterm trend?
Really? Interest is low yet it’s setting records? Makes no sense to me… smh
Remember guys, just because Google Trends says interest is down doesn’t mean the game is over. Remember the long game, HODL!
Markets always go up and down, it’s not unusual…
So, it’s a perfect time to invest more right. Buy the dip they said, it’ll be fun they said! 😉
Im surprised El Salvador has the highest search interest. interesting development for sure.
Gotta say, interest in bitcoin news being even lower is a bit alarming. Not the kind of news you want to hear as an investor.
Ironic, interest is low but Bitcoin is doing big things. Makes me wonder if we’re really looking in the right places for our data…
Is this gonna affect the price? Should I sell now or what. Need some advice here guys.