To make an inference from Google search data, crypto enthusiasm is rising again, according to new research.
Searches for “buy crypto” on Google were reported in January, according to crypto analysis firm The Tie. reaching an all-time high It significantly outdid the previous record in early 2018.
Relative search interest for the term “Buy Crypto” is at all-time high on Google Trends pic.twitter.com/4cFIkI0xbp
— The TIE (@TheTIEIO) February 1, 2021
The term “buy crypto” scored 100 points on Google Trends; that is, the attention shown was at the highest level.
A similar jump was seen in Ethereum, and the term that reached 100 points, then dropped to 65 points.
Searches for Bitcoin (BTC) are also booming, but the number of searches is still very low compared to the 2017 bull market.
The chart below, shared by The Tie with Cointelegraph, highlights the sharp increase in searches for “best crypto app” and “best crypto exchange”.
The exploding search trends coincided with an increase in individual interest in both Ethereum and other altcoins. The price of Ether (ETH) has doubled since the beginning of the year, and last night also rose above $ 1,500 for the first time.
On the other hand, the total value of the crypto money market reached $ 1 trillion for the first time in January. Bitcoin’s dominance, which was 72 percent at the beginning of January, fell to 62 percent.
The Tie data shows that social media activity regarding crypto is also booming. The tweet volume on cryptocurrencies reached 3.3 million in January. This number was only 1.3 million in September 2020.