Retail interest in the top cryptocurrency appears to be waning as worldwide Google searches for Bitcoin have dropped to yearly lows. In contrast, NFT queries continue to rise, reaching a recent all-time high.
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Bitcoin search on Google drops
Google searches are often a good indicator of retail investor preferences and behavior. This is especially true for the cryptocurrency industry. The number of queries on the world’s largest search engine often follows the price movements of volatile digital assets and especially bitcoin.
However, it has exceptions. For example, searches hit a yearly high in mid-May after the asset had peaked at $65,000, and right around the time Elon Musk raised fears about BTC and China’s energy consumption. reiterates the complete ban on BTC and mining.
The price retracement was then mimicked by the drop in searches before they went up during the late October rally and the launch of the first Bitcoin futures ETF in the United States.
Now, however, queries have dropped to the lowest position this year. This happened in the context of BTC failed to recover $50,000. At the same time, thehas also fallen and is still a long way from the peaks of January and February.
People pay attention to NFT?
While interest in bitcoin seems to have waned, non-fungible tokens have taken over a major role. This industry is arguably the most improved in terms of adoption, investment, new products and everything.
It has seen the participation of countless prominent individuals and businesses outside of the crypto space, from musicians and actors to politicians and sports athletes.
Since it allows fans to boost their interactions with their favorite celebrities, it’s no wonder that Google searches for NFT have been trending up for most of this year. They reached all-time highs only recently and have remained so high ever since.