Bitcoin (BTC) Searches on Google Slump to Lowest Level Since 2020

The total number of Google searches for Bitcoin (BTC) has slumped again, returning to its lowest level in three years.

The Google Search trend, highlighted in a post shared by Ki Young Ju, the co-founder and CEO of the crypto analytics platform CryptoQuant, is pegged at just 16 for the week spanning Oct. 1 to 7.

Actual Bitcoin Search Trend Outlook

While Bitcoin is arguably the most prominent digital currency in the Web3.0 scene by market capitalization, it has notably lost its place in the social sentiment scale as measured by Google Search trends.

According to the data, Bitcoin’s search interest volume has slumped from its All-Time High (ATH) of 100 from the week ended May 22, 2021. By Google’s terms, a value of 100 shows the search word is at the peak of its popularity, a value of 50 shows medium popularity, and a 0 value shows the word has no sufficient data to compute its popularity.

Though Bitcoin is not at 0, its value is a testament that it has not recovered from the much-acclaimed crypto winter.

While the asset has also recorded lower search value than what it currently displays, the generally waning sentiment shows it has also not benefited from the growing hype surrounding a potential spot Exchange Traded Fund (ETF) product that may be approved by the US SEC soon.

Encompassing Fading Popularity

With Bitcoin currently not as popular as it used to be, it is worth noting that its woes are not peculiar, as most Web3.0 terms have also plunged to their lowest search scores in years.

According to the Google Search data for the same time under review, terms like Bitcoin ETF, Ethereum, Chainlink, and Shiba Inu have the assigned scores of 5, 7, 15, and 3, respectively. 

Of the lot, “XRP” managed to hit 17, surpassing Bitcoin’s value in what might have been boosted by its status as a non-security token, as has now been affirmed by a Federal US Court.