From one country to another, cryptocurrencies are not perceived in the same way. Based on this finding, we looked at the popularity of Bitcoin (BTC) in Google Trends searches over the past 12 months. Here are the results.
How popular is Bitcoin according to Google Trends?
Beyond the course of Bitcoin (BTC), it can be interesting to sometimes look at the interest shown in it, in particular by these searches on the Web. For that, we analyzed the data offered by Google Trends over the last 12 monthsassigning a popularity score ranging from 0 to 100.
First, let’s see that the “bitcoin” search is at a yearly low, by extending the search to the whole world:
Figure 1: Evolution of the “bitcoin” search over the last 12 months on Google Trend
As we can see from the chart above, the peak popularity of the last twelve months was reached during the period from June 12 to June 18, 2022. From a price point of view, this corresponds to the week where BTC plunged from $28,000 to below $18,000 before a meager rebound. In terms of news, we were right in the middle of the Celsius and Three Arrows Capital (3AC) crash.
For France, the result is substantially the same, with a few variations. For example, the popularity score of “bitcoin” is 22 in the current weekcompared to 25 for the rest of the world.
In terms of the regional podium, Île-de-France comes first, followed by Corsica with a score of 94, then the PACA region with 92 points.
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Comparison with “BTC” search
Looking at the results by country, we see that bitcoin is most popular in El Salvador, which is not surprising given the local politics. On this criterion, France comes in 40th position with a score of 11.
It will be interesting to note that the search “BTC” offers almost totally different results. If Nigeria stays on the podium going from 2nd to 3rd place, the Bahamas come out of nowhere to take 1st place and take over from El Salvador in 13th position for 11 points. As for France, it ranks 64th with a score of 4:
|Place||Country||Search score “bitcoin”||Country||“BTC” search score|
Figure 2: Comparison of Google Trends scores between “bitcoin” and BTC”
Note here low representation of Asian countries, unlike research related to the GameFi sector. With the exception of Turkey, straddling 2 continents, Singapore is the first Asian country for the keyword “bitcoin”, the only representative of the top 10, and the query “BTC” will see Pakistan and China at the 8th and 9th positions.
In general, these different keywords are gaining popularity during periods of strong upward or downward market movementsbefore stabilizing during the range phases as at present.
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Source: Google Trends
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