According to data, more people are searching for the word “Ethereum”, which has aided the word to hit an all-time high in Google’s search results.
According to Google Trends, the number of Google searches currently performed for “Ethereum” has skyrocketed significantly, eclipsing the search interest recorded during the last bull run experienced by the cryptocurrency.
The previous peak of Ethereum in search term popularity was on 13th January 2018, when Ethereum (ETH) attained its price all-time high of relatively $1,432.
— Michael Vincent (@mmichaels_21) January 7, 2021
What Does Google Trends Mean For Ethereum (ETH) and Crypto At Large?
A rising Google Analytics Interest score for a cryptocurrency search term is related to positive sentiment for that particular coin or project involved.
While it makes sense that search interest on Ethereum would peak during the run-up to a new all-time high, the same can’t be said for searches of “Bitcoin,” which remain at just 65% of its peak popularity on 23rd December 2017.
Using Google Trends data it looks like the Ethereum price lags the searches by one week.
We could see the Ethereum price hit a new ATH between the 10th – 16th January. pic.twitter.com/WBmWgevZ3r
— IMineBlocks ⛏️ (@IMineBlocks_com) January 7, 2021
It’s worthy of note that there are many more people searching for the word “Bitcoin” rather than Ethereum by a very wide ratio of approximately 5:1.
To be specific, an increase in popularity for various cryptocurrency search terms is potentially beneficial for the crypto industry at large. The curiosity of people in searching for crypto terms is an indication that a bull run is ongoing or at hand, which would result in more purchases that will keep pushing the price upward.
If this persists, it’s expected to propel more interest and a greater increase in the number of searches.
Google Trends also provides data that shows the region with the highest number of searches related to a particular interest. At the moment, the nations with the highest interest in “Ethereum” as a search term are Kosovo, North Macedonia, Slovenia, Nigeria, and China.