Bitcoin’s intricate relationship with its Google Trends score, a historically pivotal metric influencing its price dynamics, has recently taken a rather unexpected turn. Fresh data reveals a conspicuous divergence, with the cryptocurrency’s search frequency reaching a new nadir, resembling levels last witnessed in 2020. As of the current week, the Google Trends score for Bitcoin stands at a mere 14, despite the cryptocurrency trading within the range of $24,700 to $31,800 since March 2023.
This deviation from the established norm is not without precedent. In 2020, Bitcoin embarked on an upward trajectory, even as Google Trends scores remained subdued, sparking a bull market that endured until March 2021. Another marked discrepancy occurred when Bitcoin reached its all-time high (ATH) of $69,000 in November 2021, while Google Trends reported a score of just 36.
Over the past two years, Bitcoin’s value has been subjected to notable fluctuations. Following its ATH in November 2021, it plummeted to a low of $15,400 in November 2022. Despite this tumultuous journey and the recent dip in Google Trends scores, the cryptocurrency has demonstrated resilience by ascending from its lows and sustaining a relatively stable trading range since March of this year.
