Ethereum Merge Google Searches 2-Year Back. In the same period, the largest digital asset by market capitalization, Bitcoin (BTC) also recorded impressive trading volumes of 1.97 trillion. Despite being regarded as a long-term positive move that should improve the network in several aspects, the billionaire Mark Cuban recently warned that the Merge could have a short-term “sell-the-news” type of impact. Google Trends The trading volume of Ethereum (ETH) in May 2021 was approximately 1.51 trillion. This is somewhat expected, given its significance. The process is almost at its end as Ethereum prepares to complete it, perhaps in the following days.īeing compared to the Bitcoin halving by some, the Merge has had a profound effect on retail as the Google searches for “Ethereum Merge” have skyrocketed to a new all-time high. While retail investors are showing little-to-no interest in the largest cryptocurrency, they seem quite determined to find out more about the second-biggest one, and especially the most important event in its history – the Merge.Īs CryptoPotato explained before, the Merge will finalize the network’s transition from the energy-intensive proof of work consensus mechanism to proof of stake – regarded as more nature-friendly. Source: Google Trends Entirely Different Story With Ethereum from wordcloud import WordCloud, STOPWORDS, ImageColorGenerator. Since internet search statistics are an excellent way to track user behavior, Google Trends has become a reliable source for understanding user interest in a near real-time fashion.
Google trends crypto how to#
At the same time, the “buy bitcoin” queries have plummeted to levels last seen over two years ago.īuy Bitcoin 2-Year Google Searches. Following the inception of cryptocurrencies, Google has been the primary method to search for new coins, track market trends and learn how to buy crypto. The “bitcoin” searches worldwide have declined to the lowest levels since December 2020 – just ahead of the bull market. Another cause may be the fact that Bitcoin (BTC) price remains below its all-time high. Ongoing civil unrest around the world may explain the lack of public interest.
This has been the case in the past several months, as BTC lost over 50% of its value and then calmed around the $20,000 mark. Google Trends data shows that the number of searches for terms like Bitcoin, Ethereum, and crypto is much lower than it was in late-2017. When the asset cools off and lacks volatility, the trend changes. The rule of thumb is that when a particular asset is hot (usually meaning its price is soaring), more and more people are looking for it – an example evident amid the bull run in late 20. As an analyst on Twitter pointed out, latest data from Google Trends says interest in the search term NFT has been going up, and has now overtaken crypto for the first ever this week.
Google trends data shows the behavior and interest of retail investors as they tend to inquire about certain investments on the world’s largest search engine. The demand and interest in bitcoin seem to be further fading among retail investors, at least according to data from Googe Trends.Īt the same time, the searches for the upcoming Ethereum Merge event have skyrocketed to a new all-time high days before the blockchain’s transition to PoS.
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