Google Trends: It’s all About Bitcoin, not Cryptocurrency

CryptoMode Google Trends Bitcoin Dominance Index Max Keiser

One of the recurring debates in the world of Bitcoin and altcoins is determining what people are effectively interested in. As it turns out, the only thing people really care about is Bitcoin. Looking at Google trends, even the term “cryptocurrency is not of any real interest. 

Bitcoin Dominates Google Trends

There is a lot more to the cryptocurrency industry than just Bitcoin. More specifically, that is what everyone tends to say when these discussions arise. If the Google Trends for the entire world are any indication, however, anything that isn’t Bitcoin doesn’t really matter. For every 57 searches for Bitcoin, there are 3 searches for cryptocurrency. A very interesting correlation, but it also highlights somewhat of a problem.

CryptoMode Google Trends Bitcoin Cryptocurrency

More specifically, there is nothing wrong with Bitcoin being the dominant trend. It shows that, in terms of branding and marketing, the term “cryptocurrency” doesn’t have the same appeal in the slightest. Bitcoin is the leading asset in the crypto industry, especially when looking at valuation, market cap, trading volume, and overall awareness. 

In terms of related queries, the Bitcoin halving of 2020 generated a lot of search volume. People wanted to know how this would affect the price and position of this asset. There are also ample people looking for ways to double their money with BTC, which is somewhat to be expected.

Adding extra search terms for comparison isn’t changing the narrative all that much. Ethereum, XRP, and Litecoin all note roughly the same amount of searches compared to Bitcoin. Google Trends is not an indicator of how popular different projects and assets are. However, Google is the go-to place to search information for people. Bitcoin’s dominance in this segment cannot be underestimated nor ignored. 

Educating the Masses is Necessary

In theory, the dominance of Bitcoin is a positive thing. It shows that all of the riff-raff in this industry is largely being ignored. Unfortunately, it will also lead to a lot of people being unaware of those projects that are worth keeping an eye on. Which those projects are, differs from person to person. 

Not everything worth keeping tabs on has to do with BTC. In fact, it is thanks to the broader cryptocurrency that Bitcoin keeps improving over time. Litecoin, for example, implemented SegWit well before Bitcoin, further confirming the upgrade worked as expected. 

Given the current lack of interoperability in this space, something will need to change. Since so few projects or “buzzwords” are part of Google Trends right now, it is evident that this is an educational issue first and foremost. 

The world’s leading crypto asset only tells a part of why this industry was created. Ignoring everything else that is going on is never the right approach. Raising awareness of other projects, such as what Syscoin is doing with Ethereum, is crucial. 

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