According to Cointelegraph, Google has hit a four month low. Not in terms of its price, but as a search term on Google. Google believes this is due to market fatigue and trader boredom.
Data from Google Trends confirms that the term “Bitcoin” is less popular now than at any time since the end of April.
This news comes at a time when the leading cryptocurrency is trading at a higher price than it was last week, but despite this, there appears to be little mainstream interest in bitcoin.
Cointelegraph says, “On a normalized scale of 1 to 100, “Bitcoin” currently charts at 38 worldwide, after briefly hitting 100 in late June. That performance coincided with BTC/USD hitting its 2019 high of $13,800.”
As reported in the past by several crypto news outlets, mainstream interest tends to follow the bitcoin price. When it rises, so does the number of ‘bitcoin’ searches on Google. Overall searches have rocketed since the beginning of April when Bitcoin price began its rise from months of sideways trading around $3,500.
Furthermore, when bitcoin is showing a strong price rise, the mainstream media tends to cover the topic as well, which also leads to more Google searches, but over the last few weeks bitcoin has been given little attention by the general newspapers.
Cointelegraph also remarks “BTC/USD has remained similarly flat around the $10,000 since mid-August, while commentators continue to suggest that volatility is ripe to return during the rest of the year.”