Bitcoins Global Interest Plummeting: Whats Going On?

By Lola Coin Jun 27, 202362Views

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Interest in Bitcoin has reached historic lows, according to Google Trends data. Organic searches related to Bitcoin have dropped significantly in the past six months. This decline in interest is surprising considering the recent recovery of BTC and crypto prices, with BTC reaching 2023 highs and experiencing an 87% increase. The disinterest in Bitcoin has been steadily falling since the second half of 2022, and the current search readings are lower than those in 2021 when Bitcoin was at record highs. It seems that there is a correlation between sentiment and prices, as searches for Bitcoin increase when prices rise and decrease when prices fall. One possible cause for this decline in interest could be the increasing regulatory scrutiny of Bitcoin and cryptocurrencies, particularly in the United States. The actions taken by the SEC against popular exchanges like Coinbase and Binance may have impacted sentiment and decreased user interest.

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