Google Searches for 'Bitcoin' Just Hit Their Highest Level Since April

The number of Google searches for bitcoin has seen a notable uptick this week, now recording its most searches worldwide since last April.

AccessTimeIconNov 28, 2018 at 7:00 p.m. UTC
Updated Sep 13, 2021 at 8:37 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Google’s trend explorer reveals the weekly number of worldwide searches for the keyword "bitcoin" has reached levels not seen since the first week in April. 

While the exact number of searches accrued so far this week is not clear, data from Google reveals 'bitcoin' searches in the past three days alone made up 17 percent of its all-time-high weekly search volume set from Dec. 17-23, 2017.

At that time, the cryptocurrency was trading around its record high near $20,000, while at the time of writing, it is valued at $4,167 according to CoinDesk's Bitcoin Price Index (BPI). 

trends

Google trend data further reveals that the most searches for bitcoin in the world over the past week came from Nigeria, South Africa and Austria, in that order. Interestingly, the U.S. barely cracked into the top-20, ranking in at 19.

The seven-month high in Google searches for bitcoin perhaps should not come as a surprise since the cryptocurrency made headlines last week for its price falling to a 13-month low below $4,000. Data further reveals the searches for bitcoin more than doubled on the day it entered the $3,000 range, Nov. 24.

That said, it has long been speculated that the price of bitcoin and its Google search trends are highly correlated, which suggests the uptick may be a sign of things to come for bitcoin's price.

conducted in 2017 by researcher Willy Woo shows that the Google search trends can even be used to detect speculative bubbles as well as the best and worst times to buy the cryptocurrency.

In other words, periods of low 'bitcoin' search volume have historically shown to be the points of maximum financial opportunity, whereas periods of abnormally high search volume tend to act as a warning sign that bitcoin is in a bubble and may soon experience a pullback in price.

Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.

Image Credit:BigTunaOnline / Shutterstock.com

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.