Coffeezilla Takes A Dig At Crypto As Interest Hits Near 5-Year Low: 'Because Average Person Does Know..'
Portfolio Pulse from Mehab Qureshi
Global Google search traffic for the term “cryptocurrency” has reached its lowest point in five years, according to Google Trends. YouTuber Coffeezilla attributes this to the average person now understanding what crypto is. However, searches for Bitcoin have maintained levels above those observed in 2019 and 2020, while searches for Ethereum have dipped. The SEC's intensified efforts to regulate crypto entities like Binance and Coinbase could also be influencing the decline in search traffic.
September 04, 2023 | 11:45 am
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NEUTRAL IMPACT
Despite the overall decline in cryptocurrency search traffic, searches for Bitcoin have consistently maintained levels above those observed in 2019 and 2020.
The steady search traffic for Bitcoin suggests that interest in this particular cryptocurrency remains relatively high, despite the overall decline in cryptocurrency searches. This could potentially indicate a stable demand for Bitcoin in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Searches for Ethereum have experienced a dip, reaching their lowest point in nearly three years.
The decline in Ethereum search traffic could potentially indicate a decrease in interest or demand for this cryptocurrency in the short term. This could potentially have a negative impact on its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70