Blockchain Google Searches Overtake Cryptocurrency

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Following trends of recent hype in the technology, the word blockchain has surpassed the number of Google searches than cryptocurrency since September this year.

While Google Trends show that Bitcoin is still around ten times a more popular search term than either of the above, blockchain interest has overtaken the generic term of cryptocurrency for the second time since 2017, the first instance being in July this year.

What this means

A study from Yale University earlier this year found that “investor attention” was one of the two most significant indicators for the future price of Bitcoin. An increase in Google search results particularly was found to be a strong predictor for the cryptocurrency’s future price in the following weeks. Ripple and Ethereum showed similar trends in line with Google searches, although with different timelines.

Extrapolating these results onto blockchain, this spike in searches may indicate an increase in investor or developer interest.

However, Google Trends does not offer an exact figure for the number of times the word is looked up, it only shows the relative popularity. Even if it did, simply being Googled a number of times cannot provide any steadfast data regarding its popularity, but it can show us what most people are being drawn to at a particular time.

Crypto Google trends

Between August 2017 and August 2018, the number of times Bitcoin was Googled surpassed both pop icon Taylor Swift and even the stock market.

In December 2017, Bitcoin’s value reached nearly USD 20,000 and the term was searched for up to 25% more times than US President Donald Trump. As Bitcoin News reported, during times of a stock market slump, the number of times it is Googled increases, whereas Bitcoin sees an increase when there is a bull market.

 

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