A survey by peer-to-peer crypto exchange Paxful last year found out over 73% of the test-takers in the country considered Bitcoin as an effective hedge against the ill-effects of inflation-a sentiment that is now increasingly shared by tech firm CEOs and hedge funds alike. This has caused widespread unemployment and limited jobs for the youth-all factors that lead to the adoption of decentralized and deflationary assets such as Bitcoin.ĭata suggests Argentinians are savvy about Bitcoin. Research shows that since the last decade, Argentina’s economy has reeled from price depreciation, excessive debt build up, inflation, and economic contraction. Image: Google Trends Bitcoin to the rescue Google searches for Bitcoin are more than double those of even 2017. The value is also the highest it had ever been in the past five years, with search data showing the current interest for “Bitcoin” searches was twice that of 2017’s infamous bullrun. The move coincided with the asset breaking its past all-time high of nearly $20,000 to over $41,000 around the same time, which may have contributed to the interest as well. A value of 100 is said to be “peak popularity,” while values below 50 mean half or less than half of the popularity.īitcoin zoomed to the 100 level in Argentina last week, up from a popularity level of just 28 in December last year. “Trends” are a proprietary metric used by Google to calculate the interest in a particular term, sentence, or word in a certain region in a particular time period compared to all searches for the same terms in another time period. On the other hand, if interest fails to light up going forward, then Bitcoin’s price could drop back down instead.īTC's price shoots up | Source: BTCUSD on TradingViewįeatured image from, charts from TradingView.Argentina's Google Trend searches for #Bitcoin going ballistic □□ /GsQK3sc033 ![]() It’s likely that the Google trends chart would change soon if BTC keeps proceeding like this, and all the fresh money that will come in then could take it to new heights. As a lack of new interest would also imply a lack of fresh money dropping into the crypto. It also means that this surge in the price of Bitcoin is mostly driven by old money. Related Reading | Miners Transfer A Never-Before-Seen Amount Of Bitcoin To Exchanges The recent rally where BTC crossed $55k for the first time in five months hasn’t been enough of a spark to reignite general popularity in the coin. What Do These Trends Mean?Īn important thing that these Google trends show is that there is a relative lack of new interest in Bitcoin right now. History: The American Cocker Spaniel is a descendent of the English Cocker Spaniel, both of which were used for hunting quail and other small birds. The US is ranked all the way down to 23rd right now. Dog Group: Sporting Size: 13-15 inches tall, 15-30 lbs Lifespan: 12-15 years Energy Level: Medium Coat: Long and wavy Shedding: Moderate Hypoallergenic: No. Unsurprisingly, El Salvador is top of the list as the nation recently adopted the cryptocurrency as legal tender. The top five regions for the search term Bitcoin | Source: Google Trends Here is some more interesting data, this time the popularity has been filtered by region instead of by time: On taking a closer look at the chart, it becomes apparent that Bitcoin had peak interest for the period on 16 May. Feb and Jan also saw popularities not very far from it as both had interest values over 80.īut the current value according to Google is just around 31, lower than at the start of September. Related Reading | Can Google Trends Predict The Last Bitcoin Leg Up? For example, an interest of 50 would suggest the period had half as much popularity as the peak. This highest value is taken as 100 and every other value is calculated relative to this. Google’s trend charts display these interest values relative to the period where the search term had peak popularity. Interest in BTC over the last one year | Source: Google TrendsĪs the graph shows, interest in Bitcoin looks to be pretty low at the moment when compared to the early 2021 rally. Here is the latest interest over time chart for the search term “Bitcoin”: However, despite such an increase, Google trends reveal a different picture about the general interest in the crypto. ![]() Google Trends For The Search Term “Bitcoin” Show Low Current InterestīTC recently had a sharp move up where the price crossed the $55k mark for the first time since May. Despite the recent big move in Bitcoin price, Google trends reveal general interest in the cryptocurrency still remains low.
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