With the beginning of the year, according to Google Trends, the number of search queries with the word [bitcoin] has fallen by 75%. If on January 1 of this year the popularity of bitcoin stood at 37 points compared to the period of maximum manifestation of interest (100 points), on 2 June, it dropped to $ 9.
Co-founder of the DataTrek Research Nicholas colas (Nicholas Colas) considers this a negative factor for pricing of the cryptocurrency. And, to recover the interest in bitcoin at the international level, according to the researcher, it is necessary to submit a “new narrative”.
In addition, Kolas relates the price of bitcoin with interest the users to cryptocotylar. According to his calculations, in April and may of interest to new wallets was about 2% in the first quarter of the year – about 3.7% per month. However, at the end of 2017, when the rate of bitcoin was at $20 thousand, this figure was 7.6%. Colas thinks bitcoin will once again grow when the interest in cryptocotyle will rise by 5% per month.
The number of search queries on other major currencies with the beginning of the year also fell: for Ethereum – 70% of Bitcoin Cash is at 82%, Ripple (XRP) – 87%. At the same time, the interest in EOS has grown by 97%.
Recall that in October last year, known cryptosuite investor, a trader and enthusiast of cryptocurrency Willie Wu (Willy Woo) in the course of his study based on data from Google Trends came to the conclusion that the number of users of bitcoins doubles every year. At that time, according to his calculations, one could expect a ten-fold increase in growth every 3,375.