Even though things are not looking great for Bitcoin, there’s no reason to despair. The situation in China isn’t great, but it is a necessary intervention to improve the ecosystem. More importantly, the Google Trends for Bitcoin are still well up this year. There has been an interesting dip in popularity not too long ago, but things are picking up once again.
Google Trends has always been an interesting metric when it comes to cryptocurrency. Although it is not necessarily a valid representation of Bitcoin popularity, one shouldn’t ignore it either. The interesting part is how the Google Trends statistics for Bitcoin have gone up similarly to the price. That is not exactly a surprise by any means. Bitcoin isn’t the only currency with such a pattern either, as Ethereum – or Etherium – has seen a similar curve over the past two years.
Google Trends for Bitcoin is Still Going Strong
What this particular trend shows us is how Bitcoin is still extremely popular. There are far too many people who remain unaware of the cryptocurrency’s potential. In fact, the most popular terms revolve around Bitcoin as a payment system. Whether or not this means merchants are actively looking for solutions, remains unknown at this point. However, it is good to see people are slowly exploring more specific terms related to Bitcoin.
As one would somewhat expect, the Bitcoin search term is popular all over the world Most of the interest originates from African countries these days. The US and Northern Europe are also doing their part, as is Australia. Latin American and Western Europe seem mildly interested in this new form of money. There are also a few regions where this Google Trend is nonexistent, such as most African countries, parts of the Middle East, and the India-Pakistan region. That latter part is somewhat surprising, though.
Even though the Bitcoin price may not show it, the world’s leading cryptocurrency is very popular. Whether or not that will affect the Bitcoin price, is anyone’s guess. Google Trends confirms this popularity isn’t dwindling all that much. Despite a brief dip earlier this year, things are back where they were prior. If this trend continues, things turn out better than ever for Bitcoin.
Header image courtesy of Shutterstock