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The word "Bitcoin" is increasingly being searched on Google

Analysts consider this a wrong signal for the course of the cryptocurrency.

05.Jun.18 9:44 PM
By Mark Gainer


The word "Bitcoin" is increasingly being searched on Google
According to Google, the number of search queries for users on the word "Bitcoin" since the beginning of the year decreased by more than 75 percent, including the last three months - about twice. The online magazine ForkLog writes this.

According to the graph of user interest in the search word from Google Trends, the popularity of bitcoin fell from 37 points at the beginning of the year to 9 points at the beginning of June (total in the chart is 100 points). With this number of requests to search Google information about other cryptocurrencies also decreases. So, interest in the second world cryptocurrency Ethereum has fallen by 70 percent since the beginning of the year, to Bitcoin Cash by 82 percent, and to XRP by 87 percent. True, the fifth in the world ranking currency EOS this year became more popular by 97 percent.

According to the co-founder of DataTrek Research company Nicholas Kolas, the decrease in the number of searches for bitcoins in search engines can be considered a bad sign for the rate of cryptocurrency and it needs reasons to return to the public interest. Kolas noted that problems for the price of bitcoin could also be created by a decrease in the growth in the number of new purses.

To increase the coin's price, it should be at least 5 percent a month, at the same time, in the first quarter it averaged 3.7 percent a month, and in April and May it dropped to just 2 percent. For comparison - in the fourth quarter of last year the average monthly dynamics of opening new bitcoins-purses was 7.6 percent, and then the exchange rate was approaching 20 thousand dollars.

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