Google Trends: interest in Bitcoin and Ethereum fell by 75%
The number of search queries in Google contain the terms Bitcoin and Ethereum fell by 75%.
The number of search queries from Bitcoin began to fall in December and is now at the level of October-November.
Interestingly, countries that are more interested in Bitcoin have also changed. These used to be predominantly African countries with developing economies, but now they are mostly developed economies:
The story of Ethereum is very similar. Although this cryptocurrency managed to recover in January after falling in December, after that, the level of interest decreased and is now at the level of November.
The graph of the number of requests containing Ethereum coincides almost to the point with the price chart for this cryptocurrency, demonstrating a clear correlation.
However, it is safe to say that is the cause and what is effect in this case is impossible.
For both cryptocurrencies, there is a correlation between interest in them in search engines and price fluctuations: the higher the price, the higher the interest.
In addition to the decrease in the level of interest and the fall in prices, the number of transactions in both networks has also decreased. In the bitcoin network, the number of transactions fell to 150,000 (the level of two years ago), and in the Ethereum network, the number of transactions is 730,000 (the level of December).