Crypto Euphoria On The Rise Again On Google
Crypto Euphoria On The Rise Again On Google
February 3, 2021
Crypto Euphoria On The Rise Again On Google
Crypto Euphoria On The Rise Again On Google
February 3, 2021

Crypto frenzy increasing on Google search trends again as found by new industry findings. 

According to cryptocurrency analytics company The Tie, Google searches on “Buy crypto” soared to all-time peaks in January, surpassing the previous spike of early 2018. 

 Google Trends score a total of 100 for its keyword indicating a maximum relative interest.

Likewise, a similar spike was seen in Ethereum which reached a perfect score of 100 before making a downturn to a still-strong 65.  

The search for Bitcoin (BTC) also soared however remaining under the bull market high of 2017.

Treyce Dahlem, the research analyst at The Tie, said to Cointelegraph:

“Relative search interest for popular crypto terms is at an all-time high on Google Trends,” 

He further added:

“Whether this is due to the recent price rallies that we’ve seen, speculative traders from Reddit looking to leave their mark on more assets, or even a macro shift in the way investors are searching for a hedge against inflation, one thing is clear: There is a rapidly growing interest in crypto and new investors are looking for the best way to get into the ecosystem.”

Both Ethereum and altcoins are aligning on the Google search trend with rising retail interest. The price of Ether(ETH) has doubled from the start of the year reaching a new all-time high of over $1,500.

ALSO READ :  Crypto Gaming Company “Bling” Reports Increasing Number Of People Using Its Products During COVID-19 Pandemic

In January the overall cryptocurrency market hit $1 trillion for the first time. Whereas the first rise was mainly due to Bitcoin, nevertheless, altcoins have played a major role in strengthening the trillion-dollar valuation with greater intensity over the past month. The Bitcoin supremacy rate has dropped to 62% from a high of 72% in early January.

In the overall cryptocurrency business, Google search patterns are often associated with movements. The relatively higher searches suggest an increasing digital asset retail recognition being a precursor to broader speculative adoption.  

 The Tie reported to Cointelegraph that the social media platforms which are flooded with crypto have soared on high. The total of tweet volumes on Twitter related to cryptocurrency reached 3.3 million in January, up from 1.3 million in September 2020. The total tweet volume as of January was 181% higher than the previous year.

Source: Cointelegraph


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Coinbase Active Users Increase By 120%

Coinbase Active Users Increase By 120%

The active users of Coinbase, the major cryptocurrency exchange, have increased by 120%, while trade volumes tripled. It has been reported according to documents filed with the US Securities and Exchange...

Emon Devi

Emon is a content writer at Crypto News Point. She loves to write abstract poems and articles and always up for an adventure and explore more in life.