Searches for Bitcoin on Google fell to pre-March levels, revealing less interest in the leading cryptocurrency. Although Bitcoin actually managed this crisis well and managed to get out of the point where it fell hard, investors’ confidence in the safe harbor claim may be the main reason for the decline in calls.
Bitcoin Loses Interest
Looking at Google Trends data, it can be seen that Bitcoin has dropped to levels before March in the world. Bitcoin searches rose to a 12-month high last month and set a record on March 13. The reason for this is that BTC has lost almost 50% value together with stock markets.
The record breaking interest in Bitcoin is related to the decline. This drop from coronavirus caused people to search for BTC and see it as an opportunity. It was also reflected in the agenda that traditional investors and mainstream audiences searched for BTC over the past few weeks.
However, the drop in searches on Google can be considered as a normal development these days when BTC is taking a stable view. As the price of BTC rises, the interest in it will increase.