The recent crash in the crypto market has some discouraged, but not the vast majority.
Recent Google searches for Crypto have hit an all time high, and this may just be indication that the general public is indeed headed in the direction of mass adoption.
This type of interest may be a precursor to another Bitcoin rally, and it may push prices upward yet again.
Then again this may mean absolutely nothing as the nature of financial markets is erratic.
It remains to be seen what this news means for BTC, and the broader crypto market, but bulls see this as a sign that the future of crypto seems bright.
Here are the latest developments:
@zerohedge Google Searches For Cryptocurrency Hit All Time High As Tom Brady “Buys The Dip” Google Searches For Cryptocurrency Hit All Time High As Tom Brady "Buys The Dip"
Institutions may have been selling ahead of today's crypto https://t.co/hejRLJ644W
— Macro Economicblogs (@macro_blogs) May 21, 2021
"most energy efficient cryptocurrency” and "environmentally friendly cryptocurrency” are breakout searches
“how does bitcoin use energy” +1,050%, past week US pic.twitter.com/0lICqlTbaQ
— GoogleTrends (@GoogleTrends) May 19, 2021
Cryptopolitan gave us a rundown on the data:
According to Google trends, the new Google search level for crypto beat its previous ATH recorded in 2017/18 after a similar crash that year.
From analysis by Google on search queries by users, The most significant increases came from “what happened to cryptocurrency today,” which recently saw an 850 percent uptick.
In another twist, “should I sell my crypto” searches in the US alone skyrocketed by 400 percent in the past day.
Among the crypto topics which were searched the most was subjects bordering on the environment. Google trends indicated that “most energy-efficient cryptocurrency” and “environmentally friendly cryptocurrency” became “breakout searches.”
This cannot be unconnected to Elon Musks’ reason for suspending crypto payment for Tesla-made electric vehicles.
SMH…I’ve seen better from you PFT. Over here we just buy the dip! https://t.co/1iJq0JTUUh
— Tom Brady (@TomBrady) May 19, 2021
Zero Hedge provided some more perspective:
they will soon turn from sellers to buyers as bitcoin’s historical trading pattern clearly shows that every single previous dump has been followed by a sizable rebound. And since nothing has changed, and banks continue to debase currency with Weimarian abandon, the bullish thesis for “digital gold” remains the same.
Still, to many retail investors – most of whom are new to the crypto space following the “bitcoin winter” hibernation – today’s action was nothing short of shocking as none other than Google confirms, with the world’s largest search engine reporting that searches for Cryptocurrency just hit an all time high.
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