According to Google Trends, interest in Bitcoin and Ethereum fell by 75%

[Kilian_Russo]

According to Google Trends, interest in Bitcoin and Ethereum fell by 75%

The number of Bitcoin and Ethereum search queries in Google has dropped significantly from the high of 100%, to 25% according to the Google Trends web application.

Interestingly, in countries most interested in Bitcoin, statistics have also changed. It was primarily African states that showed the greatest interest, but now it is mostly economically developed countries.
The situation with the Ethereum crypto currency has a similar tendency. While it managed to restore general interest in January, after the December fall, it fell from about to 25% of requests.
However, the reasons for this situation are difficult to understand, because Google's search queries are not the main indicator. That is why they may not correspond to price movements.

When this changes, no one knows, but the number of transactions in the Bitcoin network has dropped to 150000, at the same level as two years ago.

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[alyssa85]

Not surprised at this. The narrative at the start of December was "I bought in September and doubled my money by November", so of course people were googling the magic internet money that could make you RICH.

The narrative now is "Bitcoin has lost 50% of it's value since December". Now it's teh currency where you can lose money, and all those folks who wanted a sure thing have gone.

[Sudhik]

I think that's true, because we can see the price of bitcoin and ETH at this time, is very down if we look at few month ago. The price going up and going down that's normal thing, but this time is very different with few month ago, this because demand and seller isn't balance.
I have little amounts of ETH and I still  hold it, because I buy it at very hight price about a month ago. I hope the price can be back normal again

[cryptomunt]

Not surprised at this. The narrative at the start of December was "I bought in September and doubled my money by November", so of course people were googling the magic internet money that could make you RICH.

The narrative now is "Bitcoin has lost 50% of it's value since December". Now it's teh currency where you can lose money, and all those folks who wanted a sure thing have gone.

This is probably the biggest reason. Although I think we will soon arrive back into the phase of "Bought in jan/feb, doubled in april" and the hype continues. To me it isn't even the question if this is going to happen, but when it is going to happen.

[coinycoiny]

Do you think we hit the news peak for bitcoin over xmas. I mean, all the hype brought lots of people in but just about everyone on the planet knows about the ups and downs now.

I think next time it will be a case of Meh, so what.

Possibly the start of a very large stagnation/decline in all cryptos.

[o_e_l_e_o]

Good. It means the market is starting to flush out the weak hands that were only here trying to make some quick money, putting in more they could afford to lose without understanding anything behind the technology or future of crypto.

[brengoskandel]

it's true, the belief in bitcoin and Ethereum seems to have faded.
but I do not want to be pessimistic about this, I still hold some Ethereum, and still hold it to this day. I hope the trust will return to both coins.

[Pan Troglodytes]

You know the interest goes up with the media hype and lowers when the hype fades. Hype goes up with the price and lowers when the price movements get sideways and boreing. It is a kind of a forward-bacward feedback mechanism, creating cycles, but it is by no means surprising.

What we (we=bitcoin hodlers) need to do now is patiently wait for the next hype-price-interest cycle.

[taeewo]

This cant be true, you need to give of proof for this data.

[jimbo2000]

This cant be true, you need to give of proof for this data.

This is google's data and it is true and also not surprising. When the price spikes as sharply as it did in December it's always because of huge interest and brings even more interest.

This is not a sign that belief in the currency has faded, it is still around the level it has been at for the past long while, it just shows that what we experienced was really a frenzy. I don't think that anything can sustain that level of interest.

[zeaderza]

Good. It means the market is starting to flush out the weak hands that were only here trying to make some quick money, putting in more they could afford to lose without understanding anything behind the technology or future of crypto.

Yes, this point is really good one because if someone is here in the market of bitcoin just to make some luck, then it is good that he has already left, because the concept behind the bitcoin is that it is decentralized currency which will be strengthening the masses and not the governments and banks, it is doing exactly opposite to that. Couple of years back, people were considering this thing a scam and weren’t ready to believe in it at all but now people are talking about it, governments are talking about it, media is talking about it, so the success is already here and time is very near when banks will start talking about the transactions in bitcoins.

[CryptoC7]

That's pretty surprising, I wonder how holders and those who have bought high are going to cope with this!

[edhp]

google search results is a good indicator of hype and interest in crypto. well hopefully there will be more hype in the coming months to get back to the previous highs of december

[MakLampir]

that's right, today bitcoin has lost the trust of people.
so too with Ethereum, it all slumped. and now the condition gets worse, if for example the two coins are really falling to zero, is there a coin that can replace their position?

[Danielavgonz]

According to Google Trends, interest in Bitcoin and Ethereum fell by 75%

The number of Bitcoin and Ethereum search queries in Google has dropped significantly from the high of 100%, to 25% according to the Google Trends web application.

Interestingly, in countries most interested in Bitcoin, statistics have also changed. It was primarily African states that showed the greatest interest, but now it is mostly economically developed countries.
The situation with the Ethereum crypto currency has a similar tendency. While it managed to restore general interest in January, after the December fall, it fell from about to 25% of requests.
However, the reasons for this situation are difficult to understand, because Google's search queries are not the main indicator. That is why they may not correspond to price movements.

When this changes, no one knows, but the number of transactions in the Bitcoin network has dropped to 150000, at the same level as two years ago.

More

I don´t think it has dropped