Google Trends research finds out that “Bitcoin” web searches have dropped 75% since early 2018 and has particularly tanked the last three months, according to a CNBC report.
According to CNBC, Google Trends supposedly analyzes the popularity of web searches in different time periods. It ranks them with a value system from 1 to 100 and recorded that the time of Bitcoins high rise in price in January, the “Bitcoin” web search popularity was 37 and has dropped to 9 in recent days.
This is another attempt of the media to discredit Bitcoin and its powerful upraise. This time they’re not even dogging Bitcoin on its price. This time they went deeper, they targeted its popularity, and more precisely, its trendiness.
Instead of this recent news telling me that Bitcoins popularity is going down, it really confirms what we already know. 75% of the people who got involved in Bitcoin 6 months ago, did so mainly because of the price and its upward streak. Now that the hype is over, that 75% of people have other interests and are not too concerned about what Bitcoin is currently doing. The price is down and that’s all Bitcoin means to them, so for the moment, there’s nothing really to learn.
I believe however that the number of searches of the word “Bitcoin” on the web on the long run has been an upward trend very similar, if not exactly like Bitcoin’s price, and the reason why Bitcoin doesn’t go down to absolute 0 is the same reason its popularity won’t either. There are more and more people in the world getting into Bitcoin and staying in.
Whether people get into Bitcoin for its high-risk investment proposition, its use as a payment tool, or downright absolute necessity varies from person to person. There are many other reasons someone would get into Bitcoin, but the most popular reason to buy Bitcoin hands down, hast to be an attempt at getting rich quick. Without going into much detail as to why this is not the right attitude I'll just go ahead and say this: We don’t want these people in the space, they just create noise and hype and don’t want to hear about all the wonderful things Bitcoin is, their only question is “When moon?” or more recently “When no more dip?”. Now that they are starting to understand that no one knows the answers or can predict Bitcoins price, they’ve given up asking. Maybe some of them kept their coins, but most have definitely left the space with a bad after taste. I say good riddance. With the non-believers out of the way, the 25% of the people who stay, and pursue decentralization in general, can learn and grow with the technology and incorporate Bitcoin into their lives gradually without all the distractions created by mainstream hype.
News like this are supposed to hurt Bitcoin but instead it makes it stronger. Why? Because Bitcoin gets yet another chance to prove that it doesn’t care about popularity. Because ultimately you get to decide what Bitcoin is and how it’s supposed to be used. Remember, decentralization of trust is Bitcoins biggest innovation. Something Google Trends and CNBC lack the luxury of having, which makes me doubtful about any and all of their claims. We'll just have to take their word for it until they wise up and join us in the journey. After all, Bitcoin welcomes all and cares none.
From Planet 8 reporting,
gueco