Google Shows Bitcoin Popularity Runs Counter to Price Drops

Price provides one indication of the value of Bitcoin. Google search statistics provide another.
Last year around this time, Bitcoin hovered at a value of more than US$1,000. Since then, the price has dropped as much as 65% and has not returned to the same levels. Many speculate that such price drops are early warning signs that Bitcoin is on the road to failure. The search giant Google contradicts this conclusion. According to a company email, Bitcoin searches have risen by 38% in the last few weeks.

We can interpret these numbers in a number of ways. But this is evident: The price of Bitcoin during a certain period does not show the whole picture regarding Bitcoins popularity. Several other statistics are relevant when considering Bitcoin acceptance. A rapid rise of 38% in Google searches for the cryptocurrency is significant. The number of daily Bitcoin transactions has also doubled during the past year.

This post was published at Coin Telegraph on 2014-12-15.