Google search for “buy crypto” at the highest level since January 2018

Google has seen a massive increase in interest in crypto. The most popular terms are “buy crypto, buy Chainlink and DeFi”. The data shows that the number of “buy crypto” searches has exploded around the world and has climbed to a two-year high in the last few weeks.

Buy crypto at a two-year high

According to Google trends, search “buy crypto” reached an all-time high during a parabolic price increase in late 2017 and early 2018. Retail investors showed great interest in crypto, as the market exploded with double, sometimes three-digit price pumps per day.

After that, however, all the cryptocurrencies moved to a year-round bear market. Prices have dropped by 95% in some cases, and Google search has dropped. In mid-2019, the values ​​rose, but when the market cooled, they fell back.

In the last few weeks, however, the trend has reversed. Google has seen several consecutive annual highs from July 26 to today.

The latest “buy crypto” search maxims can be attributed to several factors, primarily associated with price promotions. Most altcoins saw a remarkable increase, with Chainlink making its way to two historic highs – Google search and price developments.

Another sector that has undergone a significant increase in popularity is decentralized financing (DeFi). Growing projects with a total locked value in excess of $ 6 billion have helped reach new search highs.

“Buy Bitcoin” has been rising since halving

In May of this year, the number of “buy Bitcoin” searches reached its highest level since April 2018. The maximum came just a week before the third BTC halving, which took place on May 11. It can be safely assumed that the event was the primary reason for the increase, as interest declined very shortly after its completion.

Over the next few months, the price of Bitcoin was stable without major fluctuations in both directions. As a result, interest in the asset declined until a few weeks ago.

When BTC decided to monitor the rest of the growing cryptocurrencies at the end of July and got over $ 9,000, retail investors began to look at it again. As the asset moved upward to new annual highs, the term “buy Bitcoin” in Google search began to recover and recently reached its highest level since May.

It is worth noting that the searches are far from the ATH marked in December 2017. This could indicate that there is still much room for growth, as its price is now rising even without massive interest.

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