Bitcoin’s search volume on Google is showing a decreasing trend overall, according to the latest statistics from the tech giant’s own resources. However, this is not necessarily a bad idea overall as a deeper dive into the situation shows, according to a popular crypto analyst on X. The largest cryptocurrency by market capitalization is currently posting record prices in recent months, but the search volume for Bitcoin keeps decreasing.

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Analyst Points to Bitcoin’s Global Popularity and Interest in Price Index

Renowned crypto analystWilly Wooknows a thing or two about Bitcoin. He has amassed over 1.2 million on X (formerly Twitter) and recently posted about the declining trend of the top digital currency in search engine statistics.

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While he acknowledged the downward trend in Bitcoin searches, he believed that the digital currency is now universally recognizable, and as a result, people are better informed about it than in previous years. He tweeted:

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It’s not that there’s no interest.

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“Since circa 2019 people already know what Bitcoin is, they don’t need to search for it.

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Google Trends”

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He followed the text with an informative graph regarding the situation:

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Image Source:X.comAccording to the analyst, while Bitcoin-related searches are slowly cooling off or stabilizing, the number of searches regarding the digital currency’s primary trading pair, BTC/USD, is gaining significant trend. So, fundamentally, what he is trying to say is that people already know what Bitcoin is, and now they are more interested in its price index rather than trying to understand how it works.

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Community Responses

Willy’s take on the situation immediately resulted in some intriguing feedback from X users. A few of them immediately took the anti-Bitcoin, pro-altcoin stance and stated that the interest in other digital currencies is increasing exponentially, while that around BTC is decreasing because of profitability concerns.

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Others commented on the long-term viability of Bitcoin and understood Woo’s reasoning. However, one user pointed out the contrasting difference between the search traffic of Bitcoin and Gold:

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Image Source:X.com

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However, once again, this graph doesn’t take into account the BTC/USD trading pair but only the keyword“Bitcoin”.Gold has performed strongly in the last 3 years overall, as the precious metal’s significance has peaked due to growing concerns regarding the sustainability of the USD-led fiat system in place.

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The BTC vs Gold debate is a deeply fundamental one as it tries to address the question of which asset is better as a long-term source of value. It is expected that both premier assets will continue to play strong roles in the safe haven market for decades to come.