Bitcoin, which has attracted attention especially with its rise in the past year, has been linked to the search engine Google. Bitcoin price directly affects Google searches.
As Bitcoin investors try to follow the fluctuations in Bitcoin’s price, cryptocurrencies suddenly became one of the top topics on search engines like Google.
Declining Bitcoin price. Google is also reducing search volume
According to a report, the keywords used in the top 5 Bitcoin searches by search volume are “Bitcoin”, “Bitcoin price”, “Bitcoin value”, “USD equivalent” and “mining”
Also, in another SEMrush report, it was written that there is a strong correlation (r = 91%) between Bitcoin search volume and the exchange rate. However, it seems that people these days are no longer as interested in Bitcoin as they used to be. With the drop from $20,000 to $11,000, the search volume also dropped.
Based on Bitcoin searches, which dropped to the lowest level since October last year, we can conclude that most people are not interested in Bitcoin these days. We can say that many people are more enthusiastic about ICO and Blockchain technology these days.
Looking at these results, we can conclude that Bitcoin price and Bitcoin search volume are highly correlated, as in the Semrush report. With the sharp decline in February, search volumes also dropped considerably.
We have previously mentioned Google’s impact on Bitcoin prices.
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