It seems overall interest in various cryptocurrencies is on the decline. More specifically, Google searches for Bitcoin, Ethereum, and Litecoin are undergoing a major decline as of right now. Given the current sentiment across these markets, it will be interesting to see how things evolve.
CRYPTO’S POPULARITY DECLINING
After the crazy year we had in 2017, it is only normal that the cryptocurrency markets would calm down a bit during early 2018. We have seen all major cryptocurrencies experience significant declines in the past few weeks, and it seems this trend is only now starting to reverse. As such, it will be interesting to see what the future holds for all cryptocurrency markets, as a lot of things can happen very quickly in this industry.
With the decline in cryptocurrency prices also comes a decline in public interest. Even though that is not entirely surprising, the current Google Search trends paint a rather interesting picture. Searches for Bitcoin, Ethereum, and Litecoin are all down across the board, and it seems that situation will not change anytime soon.
Even though Google Search trends are not exactly the go-to metric to determine the future of cryptocurrencies, it does show the general public is not too impressed with the way things are going as of right now. The price decline has caused a lot of enthusiasts to cool off on Bitcoin and other cryptocurrencies, by the look of things, even though that could easily turn around once the current market uptrend turns into solid bullish momentum.
More specifically, the frequency of Google searches for Bitcoin has declined by nearly 75% over the past three months. This is not entirely surprising given the way things are going in that market as of right now. The same applies to Ethereum, even though that particular Google trend seems to have remained relatively flat for quite some time now. Litecoin searches are barely visible on the charts as of right now, but that doesn’t have to be a bad thing.
When looking at specific regions showing a keen interest in these currencies, we see Bitcoin remains the only “global trend” of the three right now, whereas Ethereum is mainly popular in North America, smaller Eastern European countries, and Asia. Litecoin is not represented anywhere on Google’s chart, but it is safe to say it’s piggybacking on both other currencies as of right now.
The big question is what the remainder of 2018 will bring in this regard. If most of the Bitcoin price predictions come true, we can expect some major upward price momentum in late 2018. If that is the case, we may very well see a lot more Google search queries involving Bitcoin, Ethereum, and Litecoin. It also appears the combination of the individual currencies with the term “Binance” is quite popular across the board right now.
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