As Google Trends data shows, requests for the word "Bitcoin" decreased by more than 75% since the beginning of the year and about twice in the last three months. It is reported by CNBC.
According to Datatrak Research co-founder Nicholas colas, this can be considered a bad sign for the price of the asset.
"Bitcoin needs a new history to regain global attention," he said in the newsletter for the company's customers.
Google Trends is of interest to users of the search engine to a particular word in the form of a numerical graph, in which 100 means the peak of popularity for the term. As of January 1, the popularity of bitcoin was 37 and fell to 9 as of June 2.
According to colas, the growth in the number of new wallets is also an indicator of interest and a determining factor in the price of bitcoin.
In April and may, the number of new wallets increased by 2% per month, in the first quarter, this figure was 3.7%, while in the last quarter of 2017, when the price of bitcoin approached $20,000, it was 7.6% per month.
"For the price of bitcoin to grow, the number of wallets should increase by 5% per month," Kolas said.
At the same time, CNBC notes, the number of Google requests for other cryptocurrencies has also decreased. Interest in Ethereum, the second largest cryptocurrency by market capitalization, fell by 70% since the beginning of 2018, to Bitcoin Cash – by 82%, and to XRP – by 87%. At the same time, the number of requests for the fifth largest cryptocurrency EOS in 2018 increased by 97%.
As previously reported, according to industry experts, the decision of Google and Facebook to completely ban cryptocurrency advertising may indicate the plans of these companies to launch their own digital currencies.
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