Bitcoin may not be in the mainstream Google search, but its value is definitely soaring higher

Usually, when something is in vogue, the Google search trends show how many people are interested in it and are looking up for it. Google Search trends are quantified by search interest relative to the highest point in the chart, and 17th December 2017 was the day when Bitcoin’s Google search interest touched the peaks. Bitcoin rose to immense fame and popularity in 2017, especially around November and December, and its value against the US dollar had reached around $19,891.

When the year 2020 began, it generally brought a downfall for all the world economy, but surprisingly, after March 2020, Bitcoin’s value started rising again. Today, its value against the US dollar has reached way more than 27,000 USD, but currently, in the Google search Trends chart, it is on number 21. It means that although its value is rising despite the low trends of search in Google. So, although it may no longer be in the mainstream, it has still found its way back towards going up!

The reason why Bitcoin is no longer in the mainstream as such can be because people have already searched enough about it! However, the recent trends are nothing close to what it used to be back in 2017 when many people learned about it for the first time!

The second reason can be that since people are now well-aware of this cryptocurrency, it is now easily purchasable also through some very popular services like PayPal and Robinhood. So, there are not many people who would need to search up on Google to see where to purchase Bitcoin from or other details related to it.

Bitcoin may not be the ‘hottest’ searched topic on Google anymore, but it surely gets enough media attention and coverage. For one year, its coverage in the Media has reached quite a high point in all times! This can be because for almost a year now, the usage of social media has increased exponentially, and the coronavirus pandemic had a lot to contribute to making people becoming more reliant on mobile tech apps and various social media platforms. So, if Bitcoin was not searched more on Google, that is probably because people these days learn about current affairs more through their news feed on various social platforms instead of main news networks.

So, social media can be one of the reasons that make people more aware of this cryptocurrency, so much that they do not even need Google search to learn more about it. However, if we compare this social media coverage with 2017, we will be surprised to know that the social media coverage for Bitcoin in 2020 is not even close to what a frenzy it was back in 2017! An estimated 100,000 tweets were daily shared at that time. Now, the number of tweets revolving around Bitcoin is almost 60,000 per day. That is still high, but not as high as before.

However, amongst all the nations, Nigeria is one country where the Google search interest trend for Bitcoin has seen a surge after its own currency Naira losing almost half of its value against the US dollar.

Having considered all the speculations around this financial asset, no one can say for sure if its value will stay steady, or perhaps it will even soar higher! Let us wait and watch.

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