The bear market and its harmful effects – Symptoms of a long crypto winter setting in continue to surface. Whilenothing allows one side to get 1.7 million dollarsI’interest online for cryptocurrencies experienced a significant drop in Google Trendsreaching levels comparable to those of the end of 2020.
Bitcoin, Ethereum and cryptos are no longer of interest, according to Google Trends
Since the collapse of the ecosystem Terra (LUNA) in May 2022, paving the way for what has been dubbed the year of the crisis of confidenceI’interest for research related to crypto a gradually decreasedalthough a brief spike was seen in November of the same year, when crypto exchange FTX imploded.
Thus, whether on an international scale, but also on a French scale, the use rate of the term “crypto” clearly decreases. Likewise, Bitcoin And Ethereum have had a trajectory similar descending. There Bitcoin price sluggish around $28,000 and the projections for a complicated month of June are also factors contributing to this drop in interest.
We noticed it last week, like the Fear & Greed crypto index, the market sentiment is neutral for some time now. The month of May even marked an unprecedented event: BTC price has been more stable than Meta and Amazon stocks.
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All cryptocurrencies are not housed in the same boat
However, if we take a closer look, all the facets of cryptocurrencies are not not affected by this decline in interest. Research related to decentralized finance (DeFi) saw a slight increase in 2023, while searches for “memecoins” peaked in early May, driven by the success of the Ordinals phenomenon on Bitcoin.
Finally, note that some regions stand out with a strong interest in cryptocurrencies. THE African continent continues to find in Bitcoin solutions to its monetary suffering, and theSouth Americashe finds an escape route to inflation in cryptocurrencies and stablecoins.
Trend marker, technologies are not shunned for all that. I’artificial intelligencewith ChatGPT, for example, experienced a hit noticed by both Google Trends and the crypto sector who tries to take advantage of this new technology booming.
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