Trends have always been a big part of price movement for stocks and other assets, and now for cryptocurrencies as well. Data from Google Trends’ search analytics shows an interest in the term “bitcoin.” In fact, interest is reaching a monthly high as of 24th June. Searches for the term “bitcoin” are on the rise after Facebook announced its new cryptocurrency Libra. However, searches for the term “Libra” itself have tapered off since 18th June, which was the date the white paper for the token was published. With that being said, we have to take a look at the bigger picture. When looking further into the past, we can clearly see that the number of Google searches for the term “bitcoin” was highest in 2017. In fact, current interest in googling the term is only around 10% of what it was in 2017. One thing to note is that 2017 was the year of the historic bull-run, which ended in December 2018 with bitcoin reaching $20,000.
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