New historic peak in Google searches for the word ‚Ethereum‘
Despite the bull market, many crypto terms haven’t reached a new peak of interest on Google Trends: Ethereum is an exception
The number of people searching for the word ‚Ethereum‘ has never been higher: Google Trends reveals that current Bitcoin Evolution searches for the term ‚Ethereum‘ are at an all-time high, significantly surpassing the interest that emerged during the last ETH bull run.
The term’s previous peak in popularity was reached on 13 January 2018, the date of ETH’s high at $1,432.88:
„Google Trends Worldwide Search Interest for the word ‚#Ethereum‘ is expected to reach a new all-time high.“
Google Trends Worldwide Search Interest for #Ethereum projected to reach an all-time high: pic.twitter.com/oisOk9HhoD
– Michael Vincent (@mmichaels_21) January 7, 2021
Historically considered a „popularity indicator,“ the growing interest shown in a crypto term is generally associated with a positive sentiment for that particular coin/project.
While it makes perfect sense for interest in the term Ethereum to peak during the period leading up to a new all-time high, the same cannot be said for searches for „Bitcoin,“ which remain at just 65% from its peak popularity level, reached on December 23, 2017.
That said, many more people are searching for „Bitcoin“ than „Ethereum“: the ratio is about 5:1.
An increase in popularity for various crypto terms could potentially trigger a self-perpetuating bull run: curious investors make purchases, fuelling the price hike, and thus sparking more interest, resulting in more searches:
„Judging from Google Trends data, it appears that Ethereum’s price movements are lagging behind searches by about a week. We could see a new ATH of Ethereum between January 10 and 16.“
Using Google Trends data it looks like the Ethereum price lags the searches by one week
We could see the Ethereum price hit a new ATH between the 10th – 16th January. pic.twitter.com/WBmWgevZ3r
– IMineBlocks ⛏️ (@IMineBlocks_com) January 7, 2021
Google Trends also provides data corresponding to relative interest divided by region. Currently, the countries expressing the most interest in the word „Ethereum“ are Kosovo, North Macedonia, Slovenia, Nigeria and China.
Below, we present some crypto-related keywords, with the current interest expressed as a percentage of the historical peak. For most of these headwords, the peak level was reached between December 2017 and January 2018:
- Ethereum: 100%
- DeFi: 90%
- Ethereum Classic: 87%
- Crypto trading: 84%
- Bitcoin: 65%
- DApp: 63%.
- Digital currency: 60%
- Vitalik Buterin: 56%.
- Tether: 45
- XRP: 42%.