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Google Trends: high interest in the crypto industry

[vc_row][vc_column][vc_paragraph text=”The world financial market crisis coupled with the BTC and other cryptos’ price fall has attracted public attention to the industry’s issues.“][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Crypto space is drawing more and more attention” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The Google Trends data analysis has shown an interesting and dynamic pattern that looks inspiring. Thus, as regards Bitcoin, Google searches volume has increased all over the world and came back to the levels of mid-May, 2019 when BTC price had grown from $5500 to over $8000.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”But this time the peak of the searches lasted for two weeks starting from the moment when the BTC rate which fell below $5000 on March, 13 suddenly surpassed $6000. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”It was the height of searches’ volume since June, 2019.”][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Ethereum” size=”small”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Something similar but to a lesser extent, happened to Ethereum. The peak of interest in the coin came in mid-February when there was a notable price increase and the coin’s rate exceeded $280.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”It should be noted that the crypto’s cost fell to $100 in a month but it didn’t lead to Google researches’ volume growth.”][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Ripple” size=”small”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”On the contrary, the situation is completely different for Ripple: the volume of Google searches devoted to it has been stable over the recent 12 months.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”It is notable that in times of peak interest in ETH the searches exceeded those for Ripple but for the rest of the year XRP remained more popular than ETH.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”On the other hand, XRP price chart showed medium volatility over the 12 months with a maximum of $0.48 reached in June, 2019 which was followed by long downturn to $0.18.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”For both cryptos the search volumes are lower than for BTC (BTC is 10-20 times more popular). “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The Tether search chart looks quite unchanging, and it seems like price stability is directly related with the stability of searches’ volume as no significant changes were noticed for the coin over the year.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”In light of this, there is obvious a correlation between price volatility and Google search volume. This probably happens because the most notable cost changes attract public attention.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”More important is the fact they never get lower than a certain minimum no matter how the market behaves. This is a sign of a conscious interest in the industry that goes beyond the speculative.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Still speculations remain to be the main driving force for crypto market, especially for the popularity of relatively new assets. “][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”References on Twitter” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”1242″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Finally, the comparison to the volumes of references on Twitter shows that the peaks coincided with those in Google but have different intensity.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Thus, it is likely that prices’ volatility leads to the growth of Twitter publications devoted to certain coins. But the dynamic is different: the social media charts are more constant than the Google, probably because Twitter reflects the opinions of insiders and crypto enthusiasts while Google indicates mass interest.”][/vc_column][/vc_row]