Google Searches for ‘Ethereum’ Records a New High
An increasing number of people are searching the world “Ethereum” as the crypto token has gained over 60% so far this year. Google Trends disclose that the quantum of Google searches being carried out with respect to the word “Ethereum” has clocked a fresh all-time high, surpassing the search interest recorded on January 13, 2018 Ether (ETH) bull rally. On that day, Ethereum (ETH) hit a record price of $1,432.88.
In the past, an increasing score of Google Analytics interest for a cryptocurrency search word is viewed as bullish for that specific crypto token or venture.
While there is a feeling that search interest relevant to Ethereum would reach its high in the rally to its all-time high price, similar argument cannot be made for searches related to “Bitcoin,”which continue to remain only near 65% of its zenith on December 23, 2017. Having said so, searches related to “Bitcoin” leads that of “Ethereum” by a ratio of roughly 5:1.
A rise in popularity for several cryptocurrency search terms could likely result in a self-perpetuating bullish rally as interested investor continue to purchase and boost price, interest will rise further and spark a higher number of searches.
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 offers data on the basis of searches from different regions. Currently, Kosovo, Slovenia, North Macedonia, China and Nigeria tops the list of countries where crypto enthusiasts are actively searching for “Ethereum” related topics.
Given below are the crypto associated keywords and also the current interest in percentage of peak interest recorded mostly in December 2017 or January 2018:
Ethereum Classic: 87%
Crypto trading: 84%
Digital currency: 60%
Vitalik Buterin: 56%
Smart contract: 41%
Bitcoin Cash: 9%
A major portion of the words have been seeing a rise in search frequency in the past few weeks.
— Michael Vincent (@mmichaels_21) January 7, 2021