Google Search Volume For Crypto Is Trending Down Despite Surge

The crypto hype bubble that rocketed Bitcoin and Ethereum into the public eye and made them household names when they reached all-time highs was also accompanied by a surge in search interest of people who were scrambling to find out what the fuss was all about. However, the recent crypto surge on the markets did not come with a change in Google search volume – in fact, the volume has been decreasing.

The latest rally has put a lot of cryptocurrencies up by 250% from what they were worth in less than a month. Even Bitcoin surged and the Bitcoin price news now show that BTC is close to $9,000. However, despite the rally and the fact that this downtrend may be over, the rise in prices is not being followed by a rise in Google search volume.

Trading volumes also have not seen any uptick which caused a lot of top crypto analysts to wonder what are the actual benefits of this rally. If you have been following our latest cryptocurrencies news for the last few years, you probably know the FOMO effect which swept the mainstream public when Bitcoin rose to $20,000.

The more people heard about BTC, the more they bought it which lead to surges everywhere. The Google Search volume for the Bitcoin price also spiked, reaching all-time highs in late 2017.

Now, this is not the case. The prices are going up but the search volume is going down. This was also shared on Twitter by an analyst named Haejin who illustrated the unchanged behaviour:

https://t.co/JhMTlE2zA1: Google Trend for "Bitcoin" search…not even a blip up but rather DOWN!

IF this was the reversal, shouldn't there at least be an uptick? pic.twitter.com/kPlaCna5kR

— Haejin (@Haejin_Crypto) January 15, 2020

So, as the prices are skyrocketing once again, the crypto community is not that convinced that we are beginning to see the start of a larger trend reversal. The Google Search volume has not only started to trend upward – it is actually trending down now and suggesting that even fewer people are interested in Bitcoin (BTC) now.

The same attention who called attention to the Google Search volume is also very leery about the entire leary. Haejin claims that lesser rallies over the last few months experienced more volume – suggesting that this is not the crypto reversal we have all been waiting for.

https://t.co/JhMTlE2zA1: Mama & Papa made Big Johnny fractal!

Note how Mama & Papa fractals targeted below the origin of the upward wedge.

How is it that both Mama & Papa fractals' volume is higher than Big Johnny's if he represents the "bottom" reversal? pic.twitter.com/XV3eJqKHD2

— Haejin (@Haejin_Crypto) January 16, 2020