The number of Bitcoin and Ethereum search queries in Google has dropped significantly from the high of 100%, to 25% according to the Google Trends web application.
Interestingly, in countries most interested in Bitcoin, statistics have also changed. It was primarily African states that showed the greatest interest, but now it is mostly economically developed countries:
The situation with the Ethereum crypto currency has a similar tendency. While it managed to restore general interest in January, after the December fall, it fell from about to 25% of requests.
However, the reasons for this situation are difficult to understand, because Google's search queries are not the main indicator. That is why they may not correspond to price movements.
When this changes, no one knows, but the number of transactions in the Bitcoin network has dropped to 150000, at the same level as two years ago.
While the number of transactions Ethereum also decreased, and stopped at about 730000, the same as in December.
Thus, the downtrend continued for the last two to three months. This is confirmed by other data, such as online comments showing lower activity.
According to approximate forecasts, Ethereum may close the month of February with the same price with which it started – about 800 dollars. However, it is not yet clear what the future situation in the market will be.
Author: Olga Novikova, Analyst Freedman Club Crypto News
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