Bitcoin Interest Falls Off as Google Searches Crash to Lowest Levels Since 2020

• Google searches indicate that there has been a huge decline in global interest in Bitcoin

• The number of search engine queries for the asset has declined to its lowest level since late 2020

• BTC’s Fear and Greed Index remains in the “fear” territory despite the flagship cryptocurrency’s recovery from its sub-$40,000 crash over the past 2 days

Retail interest in Bitcoin seems to be fading. Google data indicates that search queries for the flagship cryptocurrency have plummeted to extremely low levels.

Due to the lack of massive price movements in the cryptocurrency market, the interest and number of searches have reached their lowest levels since late 2020.

The number of queries on the world’s most-used search engine typically shows the interest of smaller crypto investors.

Retail investors tend to make more queries about BTC and other cryptocurrencies during the most substantial bull runs. This was noticed when Bitcoin hit a then-ATH of $20,000 in 2017. At this point, search queries about the leading digital assets were at their highest. It, however, declined again as the crypto market went into a bear market for over a year.

The same thing was witnessed last year when Bitcoin peaked at $64,000 in April, and then at $69,000 in November. From this high, BTC plummeted by more than 50%, before eventually settling at the $40,000 zone in the past few weeks.

Read also: Coinbase Launches NFT Marketplace for Beta Testers as NFT Sales Crash

Fear in Crypto Market

The Bitcoin Fear and Greed Index has indicated that fear remains in the crypto market. This analysis estimates the sentiment in the crypto market on a scale between 0 and 100, where 0 indicates extreme fear, while 100 indicates extreme greed.

The estimate is derived by the consideration of factors such as price, volatility, surveys, trading volume, social media interactions, and BTC dominance.

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