Interest in bitcoin in Google fell to a 1.5-year low
Interest in bitcoins from retail investors is falling. Now this figure corresponds to the data for the end of 2020.
The number of searches on Google Trends has decreased due to the fall in the price of bitcoin to almost half of the maximum reached in 2021 (ATH). Therefore, according to analysts, now the cryptocurrency is trading sideways.
Small investors are afraid to invest in BTC. Especially in the long run. This creates a negative dynamic of requests in the Google search engine. However, as soon as a new round of BTC price growth begins, as in 2017 and 2021, the activity of searching for the request for bitcoin will increase.
Experts also note that the BTC fear and greed index is also affecting the difficult situation of bitcoin now. It depends on the volatility of the value of the cryptocurrency, the dominance of bitcoin among altcoins, trading volume, the behavior of the crypto community, the number of crypto posts on Twitter, etc.
Now this indicator is in the negative zone (27 points) and demonstrates a decadent mood in the crypto investment market. This situation has been going on since last week, the absolute minimum of which was 25 points. And although the price of bitcoin has risen slightly since April 19, the fear of investors has not gone away.
Thus, the fear and greed index is associated with Google search activity. According to experts, by monitoring these indicators, it is possible to predict a new round of growth in the price of the first cryptocurrency.
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