According to Google Trends, the volume of weekly searches related to cryptocurrencies reached its highest level in the United States and across the world. ‘Ethereum’, ‘Dogecoin’ and ‘should I sell my cryptos’ were the topics mostly searched.
The crypto market is setting records in the world’s largest search engine.
The analysis shows that the search volume jumped between the 9th and 15th of May, when Bitcoin edged towards the US$ 50,000 mark. Ethereum’s record value during the same period may have contributed to the surge in searches.
According to Fabio Asdurian, co-founder and partner at Dynasty Global Investments AG, this demonstrates more than just a growing interest in the crypto market.
"“Many searches point towards a lack of knowledge, a superficial understanding of the matter by those interested. This vindicates our decision to always try and explain what cryptocurrencies are and how they function. We see this need as essential and a service we will always provide”, stated Mr. Asdurian."
The record number of searches also coincided with the appearance by entrepreneur Elon Musk on the popular US television show ‘Saturday Night Live’. Recent moves announced by Musk related to cryptocurrencies, especially Bitcoin, have led to sharp fluctuations in value.