A two-month delay in cryptocurrency optimism has seen interest in online searches for “cryptocurrency” and other popular cryptocurrency terms stumble by the end of 2020.
According to data from Google Trends, the word “crypto” currently has a score of 17, which is far from the reference point of 100 in May 2021.
BTC
$26,772 and Ethereum followed a similar downward trajectory.
However, search demand for these terms has been on a relatively steady decline since May 2022, about a month after most of Terra Luna’s ecosystem collapsed. In early November, a slight increase in interest occurred when the cryptocurrency exchange FTX crashed.
Search interest for the term “crypto” over time Source: Google Trends
The decline in demand comes as Bitcoin sits at around $28,000 for 10 weeks – a price action that Galaxy Digital CEO Mike Novogratz recently described as a “lack of interest” and a lack of “institutional excitement at the moment”. .
Jay Turner, the “Coin Bureau Guy,” pointed out in a June 4 Twitter post that the drop in interest coincides with low trading volume on the exchange, which he said hit a 32-month low last month.