- The phrase “crypto” presently has a score of 17 on Google Trends.
- In early November, when the crypto exchange FTX failed, there was a brief uptick.
Online interest in “crypto” and other commonly used cryptocurrency keywords has slumped to late 2020 levels, after a two-month slowdown in cryptocurrency excitement. The phrase “crypto” presently has a score of 17 on Google Trends, which is much lower than the reference point of 100 in May 2021. Both Bitcoin and Ethereum have been on a precipitous decline.
Since May 2022, around a month after most of the Terra Luna ecosystem disintegrated, however, interest in these phrases in online searches has been on a somewhat constant drop. In early November, when the cryptocurrency exchange FTX failed, there was a brief uptick in interest.
Lack of Investors’ Optimism
For the last 10 weeks, Bitcoin’s price has hovered around $28,000, a pattern that many experts characterized as a lack of optimism. Guy Turner, said on Twitter on June 4 that falling trade volumes on exchanges, which he believes hit a 32-month low last month, are related to the decline in interest.
Market sentiment has been relatively stable at its current level of 53, in the “Neutral” zone, for about a month now, as measured by Alternative’s Crypto Fear & Greed Index. However, not all fields of crypto have seen a decline in interest.
Searches for decentralized finance (DeFi) have increased this year, 2023, while interest in memecoins peaked in the first week of May. Searches involving cryptocurrencies now rank top in Nigeria and lowest in numerous South American nations. However, there has been a consistent increase in people looking for information about artificial intelligence, which many people see as the newest long-term trend.
