The Google search interest in Bitcoin reached its peak around the same time it reached its all-time price high in December 2017. Recently Bitcoin climbed back to that all-time high, but Google search interest stays very low.
Whether or not you have been following the crypto space, you may be familiar with the monumental price ascend of Bitcoin’s dollar value in December 2017 and its equally monumental sell in January-February 2018.
Here is a timeline of the events since 2016.
- The incredible rise: From January 2016 to December 2017 Bitcoin rose from about $450 to more than $19,000, a more than 4000% increase.
- The peak: In the 17th of December 2017 Bitcoin reaches its all time high at about $19,500 (price depending on which exchange you look at)
- The fall: 5 days later on the December 22nd Bitcoin retracts 45% back to $11,000.
- The bottom(?) : Bitcoin keeps falling and stops around $3,250 in mid December 2018
- The slow recovery: Since then it kept slowly rising with the usual crypto ups and downs and stabilized around $10,000 during the summer of 2020
- The come back(?) : From October 2020 to the 25th of November 2020 Bitcoin almost touched its all time high and reaching about $19,100
- The current state: This triggered almost hours later a sell-off and in the time of writing Bitcoin sits around $16,800.
I wanted to use the Google Trends tool to see how the search interest of the term “Bitcoin” has been evolving since January 2016. I compared that with the price of Bitcoin using yahoo finance.
I plotted the data in the graph bellow:
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