Advertisements
Home News Bitcoin’s Google Trends Score Plummets to 2020 Levels Amid Price Volatility

Bitcoin’s Google Trends Score Plummets to 2020 Levels Amid Price Volatility

by sun

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.

Advertisements
Advertisements

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.

Advertisements

You may also like

Rckir is a comprehensive financial portal. The main columns include foreign exchange wealth management, futures wealth management, gold wealth management, stock wealth management, fund wealth management, insurance wealth management, trust wealth management, wealth management knowledge, etc.

【Contact us: [email protected]

© 2023 Copyright Rckir.com [[email protected]]