Bitcoin searches have sharply declined to the lowest level this year, while memecoins continue to assert their 'appeal'. According to data from Google Trends, interest in Bitcoin on the search engine has hit a yearly low.
Specifically, the search index reached only 33/100 points during the week of October 7-12, 2024, marking the lowest level since its peak of 100 points in May 2021. Google Trends measures the popularity of search terms, with 100 points representing the highest interest level.
One possible explanation for this decline is the current global environment. In recent months, Bitcoin has seen little significant price movement or attention-grabbing media events, unlike previous rallies. This has led investors to seek riskier but potentially higher-yield investments.
This just confirms that in the world of cryptocurrency, we are indeed in a big rollercoaster ride and Bitcoin can be affected by seasonal trends where taste of investors can come and go. I am sure that eventually Bitcoin will assert its leadership and that memecoin is just a temporary respite where people can be making good gains (as well as losses, of course) where there are hypes all around promoting this and that pump and dump projects. This also highlights the fact that many are getting bored waiting for the big bull run of Bitcoin so many can be turning their attention and pockets to memecoins in the meantime.Something seems to have changed in the crypto market. In previous cycles, after BTC rallied, top coins such as ETH, BNB, and XRP would experience significant price increases, not memecoins, despite DOGE being in the market for a long time. In this cycle, we've seen memecoins rally immediately after BTC surge, and many investors believe that memecoins have absorbed the inflows into ALTS, preventing us from having an altseason.
This just confirms that in the world of cryptocurrency, we are indeed in a big rollercoaster ride and Bitcoin can be affected by seasonal trends where taste of investors can come and go. I am sure that eventually Bitcoin will assert its leadership and that memecoin is just a temporary respite where people can be making good gains (as well as losses, of course) where there are hypes all around promoting this and that pump and dump projects. This also highlights the fact that many are getting bored waiting for the big bull run of Bitcoin so many can be turning their attention and pockets to memecoins in the meantime.
What do you make of this development?
This also highlights the fact that many are getting bored waiting for the big bull run of Bitcoin so many can be turning their attention and pockets to memecoins in the meantime.it is possible that people are turning their attention more to memecoins since it is relatively newer compared to bitcoin and hence why people are searching more about it they do not know enough about it so they are curious making memecoins trend higher than ever but like you said this is all temporary and once bitcoin hikes up it will be again the talk of town
What do you make of this development?
(https://azc.news/wp-content/uploads/2024/10/Bitcoin-Falls-Out-of-Favor-Memecoins-Rise-on-Google-Search.webp)QuoteBitcoin searches have sharply declined to the lowest level this year, while memecoins continue to assert their 'appeal'. According to data from Google Trends, interest in Bitcoin on the search engine has hit a yearly low.
Specifically, the search index reached only 33/100 points during the week of October 7-12, 2024, marking the lowest level since its peak of 100 points in May 2021. Google Trends measures the popularity of search terms, with 100 points representing the highest interest level.
One possible explanation for this decline is the current global environment. In recent months, Bitcoin has seen little significant price movement or attention-grabbing media events, unlike previous rallies. This has led investors to seek riskier but potentially higher-yield investments.
Get more details here! (https://azc.news/bitcoin-falls-out-of-favor-memecoins-rise-id29558/)
This just confirms that in the world of cryptocurrency, we are indeed in a big rollercoaster ride and Bitcoin can be affected by seasonal trends where taste of investors can come and go. I am sure that eventually Bitcoin will assert its leadership and that memecoin is just a temporary respite where people can be making good gains (as well as losses, of course) where there are hypes all around promoting this and that pump and dump projects. This also highlights the fact that many are getting bored waiting for the big bull run of Bitcoin so many can be turning their attention and pockets to memecoins in the meantime.
What do you make of this development?
This just confirms that in the world of cryptocurrency, we are indeed in a big rollercoaster ride and Bitcoin can be affected by seasonal trends where taste of investors can come and go. I am sure that eventually Bitcoin will assert its leadership and that memecoin is just a temporary respite where people can be making good gains (as well as losses, of course) where there are hypes all around promoting this and that pump and dump projects. This also highlights the fact that many are getting bored waiting for the big bull run of Bitcoin so many can be turning their attention and pockets to memecoins in the meantime.You are right world of cryptocurrency is a rollercoaster where the trend and the interest changes with the hype and demand of people, I agree with you that people are getting bored due to BTC volatility or they have tasted the high volatility of memecoins and now they want to trade in memecoins to make more profit although they can make a higher loss as well.
What do you make of this development?
---It's a bit surprising that Bitcoin's search index went to its lowest knowing that it's the most popular cryptocurrency right now, but for me, this just shows that people are into cryptocurrencies because of the potential profit that they can get, and they can risk it all hence, they are opting to invest into meme coins rather than in Bitcoin. I believe this is the reason why the surge of memecoin in search index happened.
This just confirms that in the world of cryptocurrency, we are indeed in a big rollercoaster ride and Bitcoin can be affected by seasonal trends where taste of investors can come and go. I am sure that eventually Bitcoin will assert its leadership and that memecoin is just a temporary respite where people can be making good gains (as well as losses, of course) where there are hypes all around promoting this and that pump and dump projects. This also highlights the fact that many are getting bored waiting for the big bull run of Bitcoin so many can be turning their attention and pockets to memecoins in the meantime.
What do you make of this development?
I see it as a positive thing, not a negative thing. If we look at it from a deeper perspective, it means that people have more knowledge about Bitcoin around the world, because people usually search for things that are new or incomprehensible to them.
So if we look at the subject from a positive perspective, we can interpret the decrease in Google searches about Bitcoin as people have more knowledge about Bitcoin, not that it means that people are less interested in Bitcoin.
When you're the market driver for over a decade and has been the center of attention of critics for years, does it mean that you've fallen out of favor because you have less searches? Could it be that you already reached the level of popularity that most people don't need to use the internet to know about you?good point but there is still quite a lot of people who do not know about bitcoin and everyone wants them to be searching about bitcoin and besides searching about bitcoin does not just mean they want to learn more about it as a newbie searching about bitcoin can also be about its prices and/or other things an investor would normally search about so i can understand how the lack of searches can alarm people but it is not so bad imo
This just confirms that in the world of cryptocurrency, we are indeed in a big rollercoaster ride and Bitcoin can be affected by seasonal trends where taste of investors can come and go. I am sure that eventually Bitcoin will assert its leadership and that memecoin is just a temporary respite where people can be making good gains (as well as losses, of course) where there are hypes all around promoting this and that pump and dump projects. This also highlights the fact that many are getting bored waiting for the big bull run of Bitcoin so many can be turning their attention and pockets to memecoins in the meantime.
What do you make of this development?
~snip~
It leaves me with just one question, 'Is there a personal vendetta against Bitcoin on Google or its just a few people trying to strangle the massive adoption of the technology in anyway they deem fit'?
Bitcoin cannot be kicked out from the internet search, even though for reason why the people are in search of other memecoins is bitcoin behind it, after they might have been disappointed already with some of these coins, the next thing they do is to realize the need for bitcoin adoption and leave the unnecessary hustles on alts, no matter how people paints bitcoin to be what it is not, the uniqueness and relevance still remains.
Yes, Bitcoin can never be kick out of the internet just because of the meme Frenzy, I think that many people just join the meme hype trading and investments opportunity, it may be short term because it is all about quick profit motivated by participants.nothing can be kicked out of the internet searches if it exists it is always searchable but some things are harder to search about because maybe they are not searched as often and it is way too niche obviously whatever is trending or being searched about the most will appear at the top first and foremost
Bitcoin remains the biggest opportunity on cryptocurrency investing and trading, no doubt, many of these investors that flock into memes will definitely come back when the hypes are down. This memes investing will not last long, it is evidence that meme of the meme coins crashed but bitcoin is still waxing stronger by the day.they can earn from memecoins but bitcoin is far more superior when it comes to use case which is why it would never crash the way memecoins do
I'm somewhat concered about long term impact of meme coin trends. Aside from the fact most of them will "die" quickly, meme coins usually have limited usage besides speculation/investment. I wonder how many of them could follow DOGE steps which accepted by payment method or have solid community.
good point but there is still quite a lot of people who do not know about bitcoin and everyone wants them to be searching about bitcoin and besides searching about bitcoin does not just mean they want to learn more about it as a newbie searching about bitcoin can also be about its prices and/or other things an investor would normally search about so i can understand how the lack of searches can alarm people but it is not so bad imoEither its just searches or not, the overall search about the keyword BTC can be counted on google trends, and this is how they and we can know what the trend is in, as in SEO we used to do this for searching the hot keyword to find instant topics that can bring in views for us.
good point but there is still quite a lot of people who do not know about bitcoin and everyone wants them to be searching about bitcoin and besides searching about bitcoin does not just mean they want to learn more about it as a newbie searching about bitcoin can also be about its prices and/or other things an investor would normally search about so i can understand how the lack of searches can alarm people but it is not so bad imoEither its just searches or not, the overall search about the keyword BTC can be counted on google trends, and this is how they and we can know what the trend is in, as in SEO we used to do this for searching the hot keyword to find instant topics that can bring in views for us.
Well, that's another discussion. here BTC is not being searched more and Memecoins are searched more which means more people are interested in memecoins and they want to know more about them, it's like X memecoin, Y memecoin, When they type like this and hit the search button the memecoins is being called again and again, thus showing the interest of people.
But as zedox said, it is not that memecoins are better than BTC.
Let's just wait until when this memecoin trend will end, in the end everyone will return to the more trusted Bitcoin.Yeah, meme coins is all about hype, no utility, no value and no long term property. Take a look at Trump meme coim, when it was launched, many people rushed to buy, those who were early were lucky to make returns, but right now you can't really be talking about buying that meme coin, because you may lose your money.
Let's just wait until when this memecoin trend will end, in the end everyone will return to the more trusted Bitcoin.Yeah, meme coins is all about hype, no utility, no value and no long term property. Take a look at Trump meme coim, when it was launched, many people rushed to buy, those who were early were lucky to make returns, but right now you can't really be talking about buying that meme coin, because you may lose your money.
~Any reduction in the popularity of bitcoin currently due to popularity in meme coins to me is something I consider temporary because bitcoin in a long term will always have the attention of people. Anyone seeking also a long-term Investments in cryptocurrency will definitely still consider bitcoin first above any other meme coin.
Many people will be drawn into cryptocurrency because of meme coins, from that introduction to cryptocurrency, many will know about bitcoins if they don’t already do.The worst possibility is, when someone makes Memecoin as their gateway to the cryptocurrency world, then when someone experiences an instant defeat from memecoin, they will leave forever and will not want to know cryptocurrency anymore... it could cause great hatred...
~Any reduction in the popularity of bitcoin currently due to popularity in meme coins to me is something I consider temporary because bitcoin in a long term will always have the attention of people. Anyone seeking also a long-term Investments in cryptocurrency will definitely still consider bitcoin first above any other meme coin.
Many people will be drawn into cryptocurrency because of meme coins, from that introduction to cryptocurrency, many will know about bitcoins if they don’t already do.
In the long term, there's a high chance that you will lose your money because after a few years, 80% of the total supply will be held by the developers (assuming that they will not be selling their coins). Just look at their tokenomics.Let's just wait until when this memecoin trend will end, in the end everyone will return to the more trusted Bitcoin.Yeah, meme coins is all about hype, no utility, no value and no long term property. Take a look at Trump meme coim, when it was launched, many people rushed to buy, those who were early were lucky to make returns, but right now you can't really be talking about buying that meme coin, because you may lose your money.
and I believe this is also the reason why Bitcoin is struggling to go up. Instead of the money going into Bitcoin, it's all going to meme coins.I agree with you, especially when Trump and his family decided to launch meme coins, a lot of people ran to it and do not be surprised that some of them even sold their BTC for $Trump. You know people like get rich quick stuff, they take risks with these meme coins because they know if they are lucky it is possible to make a huge amount of money, but how many people get that luck.