Google Search: Bitcoin Out, Memecoins In

[TomPluz]

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.

Get more details here!


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?

[ABCbits]

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.

[D F]

So true, most of them have a quick death, I believe that we should invest in coins that are really worth to invest and that they will make a difference in the ecosystem.

[MrSpasybo]

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.

I can't explain the current popularity of memecoins, as I'm not a memecoin investor. I can only speculate that when BTC price rises, investor expectations increase, but they lack the patience to analyze and invest in promising ecosystems in the market such as Solana, Avalanche, and BNB. They want to own hundreds of millions of tokens, so memecoins fit their criteria ^^

[Gurujebs]

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?

The peak of Bitcoin mentioned were because of the Bitcoin halving that was coming before the event and the day of the Bitcoin halving and post halving which was because of the bull run everyone were expecting but it wasn't coming as people expected and then comes meme coins that were giving them what they wanted that's why I think the change in the search.

With time, meme coins wouldn't be giving this such profit people are making again and I'm very sure they will be bored and perhaps comes back to Bitcoin again and from the looks of things, Bitcoin might come back to take his rightful place after the US election, I can see the sign from yesterday news after Kamala made an announcement.

[bitterguy28]

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?

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

i do not think this says anything really it is just a reflection of the current trend but bitcoin still remains to be the biggest cryptocurrency ever and is not just a passing trend like memecoins

[Bobcrypto]

It has been meme coins frency since the launch of Pepe, Meme, Bonk, Bome especially when these memes were listed on the Binance exchange.
I think that Google has also join the Meme frenzy to increase it's daily users and search engines. Bitcoin searches might have declined, hence the memecoins could be another options for Google to add to their platforms daily users and compete with others.

[Zed0X]

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?

[robelneo]

Of course this is not permanent; Bitcoin dominance will regain in the market and on Google search, there will always be a point in time that majority of investors will prefer to invest on what's the hype in the community, Right now, there are many meme coins on Telegram that attract investors to invest, the excitement will cool off and things will go back to normal and people will be back investing on Bitcoin.
There will always be time like this in the market because the investors are easily attracted by profit

[Gposas]

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.

Get more details here!


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 agree with you, the long time waiting for the big bull run has given BTC that 100% fact of keeping on HODL, making it an asset for long term investment.
In most cases, I've seen that BTC is not much traded on as with memecoins rather it's been placed on HODL for long term duration.
But looking at the memes, it's quite fun trading on these assets because of its hype, though profits can be realized, same way loss can also be realized, but it's fun.
Seeing that these assets can be purchased in larger quantities, I believe it's most reason of being traded onlike BTC which a unit can barely be purchased by most individuals because of its exorbitant price.

[Faisal2202]

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?

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.

I have seen people making thousands and even millions from hundreds and thousands of dollars, respectively. I make of this development is BTC still has not lost its hype its just people were making money from Memecoins and now Elon has also added a good use case for the Dog memecoin and the airdrops like NOT and DOGs were also memecoins that's why the most researched keyword is it.

[yhiaali3]

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.

[LogitechMouse]

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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?

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.

Like you said, this would be a temporary event and as soon as the hype of meme coins decline, Bitcoin or whatever altcoin out there will arise yet again. In a world where anything can just pump like meme coins, investors will hunt for them just for the sake of profit. I guess I'll just hope for the best for them, and I hope that they're ready to lose their money if luck isn't on their side.

[Freemind]

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.

I see it from a completely opposite perspective than yours. I don't think people have more knowledge about Bitcoin and blockchain, I think Google only prioritizes its business, searches, in this case, and Google knows perfectly well that the first thing people search for before knowledge is to make quick and easy money.

What percentage of new cryptocurrency users are looking for information about how a blockchain works?, a really low percentage. What percentage of users are constantly bombarded with memes that promise millions and Lambos every day?, a very high percentage.

That's the big difference.

[bitterguy28]

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