While the Bears took full control of the Crypto market this past week, the were a surprising correlation on Google trends. As price fell into the $6,000’s, down from the yearly highs of almost $14,000, there was a spike in international searches for “Bitcoin”. What this suggests is that whether the price increases or decreases, people are still very much interested.
Google Trends “Bitcoin”
This trend was very much just seen for Bitcoin and did not correlate across the other major currencies such as Ethereum or XRP. With the entire market still very much in its infancy, the general population’s understanding of Bitcoin remains very varied. With the majority being fascinated if not anywhere near fully understanding of it. With Cryptocurrency having been given a generally negative imprint thus far, any major moves mean that Bitcoin is never far from the headlines…and after all, no news is bad news!
With 2020’s halving expected to bring Bitcoin into very much a new bearish phase, en route to hitting new historical highs, this should become a common theme. With 2019 very much being a year for fundamental development in the cryptocurrency world. After very harsh bear market, 2020 and 2021 look to see the fruits of that work being reflected in the technical prices all around.
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