To compile this article, Remitano made a research compilation to look into the Most Searched Cryptocurrency Words on Google when people search for more information.
Frequently Searched Cryptocurrency Terms
The sharp volatility of Bitcoin has attracted a lot of speculation from potential investors, and in so doing, other cryptocurrencies have gained interest from investors.
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ICOs have also played a key role in keeping people invested, even when Bitcoin and other Cryptos are generally doing a bearish on the market. This also helped keep Crypto in the loop even after the ban in countries like China and India.
The topic of cryptocurrency arouses the interest of many, especially those who have firsthand experience in this topic of the financial sector.
Largely owing to this, the awesomeness of Crypto is usually spread by word of mouth, coming from a more eager and experienced party. When newbies get inducted through this manner, they seldom get the complete answers they need, and so the next reliable source for answers is the internet. They'll most likely start with a Google search to link them directly with research materials on the web.
The crypto newbies are not solely responsible for the positive statistics surrounding online crypto searches and their related keywords. Old-time holders, Professional analysts, and Crypto researchers all turn to the web search engines when sourcing for analytical info and data comparison between contrasting or similar coins. They most certainly do the same before any other investments they make.
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If that is the case with them, anyone can follow suit, because it obviously works good enough.
To be honest, anyone who has bought into one or more cryptocurrencies will very likely make a crypto related search at least once everyday, so it would seem wrong to count them out from the trend setters.
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Data used to support these claims can be outsourced from the website Google Trends. This website gives a good insight into search trends and related keywords, depending on what terms you're looking into, in this case, cryptocurrency.
The graph chart from Google Trends shows the interest level of the term "cryptocurrency" within 12 months. The real-time of writing is at 100, equal to its previous all-time high between January 7-13. As of March 22-28 last year, its search popularity was hanging around 13, after fluctuating around the high 70's and low 60's. This just makes it all so glaring how the interest rate has gone up over nine months.
Nonetheless, some people may see it as un-trustworthy because spammers will usually pump bitcoin, and crypto-related search commands are normally associated with such actions.
Such keyword phrases like "crypto era," "crypto arbitrage VIP," crypto club will all be indicated as the top in the fast-rising (breakout) section every day. This action is usually perpetrated by such scammers equipped enough to capitalize and profit from the web, supposedly increasing web searches, such as through domain re-sales, etc.
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On the Google Trends site, trending keywords are arranged accordingly. If the interest rate of a keyword peaks at 100 for the selected region, the keyword is the most popular in that area and probably a benchmark for others. At 50, the word or phrase is half as popular. At 0, the keyword is not even up to 1% as popular.
Among the most frequently searched topics of all time, linked to the term cryptocurrency, the top 5 topics on the list by rating (at the time of writing), include words and phrases like
On the list of top searched crypto-related keywords and terms, the scam assisted queries don't really pop-up. On the top 10 of the list includes;
- bitcoin (100)
- cryptocurrency bitcoin (98)
- cryptocurrency price (78)
- crypto (75)
- what cryptocurrency (73)
- best cryptocurrency (69)
- buy cryptocurrency (61)
- what is cryptocurrency (58)
- cryptocurrency news (51)
- cryptocurrency to buy (41)
Although Malaysia doesn't appear among the top 10 countries with her citizens having a keen interest in cryptocurrencies, a deeper look into the interest level of the citizens show that the city of Putrajaya shows the highest interest amongst others, at the time of writing, with crypto-related searches reaching a rating of 100. The others, in descending order, are;
- Selangor (72)
- Kuala Lumpur (60)
- Malacca (51)
- Negeri Sembilan (50)
According to the worldwide statistics on Google Trends, the top 10 countries(according to ratings) showing the highest interest in cryptocurrency, and related topics are;
- Nigeria (100)
- North Macedonia (32)
- Cyprus (28)
- Singapore (27)
- Ireland (26)
- Nepal (24)
- Pakistan (24)
- United Arab Emirates (22)
- South Africa (21)
- Australia (21)
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It was also gathered that Google processes about 300 billion searches in a day, and out of them all, about 20% are always new combinations of questions, comparisons, and even prepositions.
To help with simplification, the "questions" section is usually grouped by the main adverbs and verbs of the question, e.g., where, how, are, when, who, etc. An example of a question under the "who" section will be "who created Cryptocurrency?", or "who regulates the price of Cryptocurrency?"
The "comparisons" section, as the name implies, will compare Crypto search frequencies between different crypto, commodities, world currencies, and even spot metals.
The section tagged "alphabetical" will list crypto-themed keywords that make up for frequent searches on the Google search engine, and it will do so in an alphabetical manner.
The list of related "prepositions" will list popular search phrases having Cryptocurrency as the first word. This includes phrases like; "Cryptocurrency is the future", " Cryptocurrency to buy", "Cryptocurrency jobs near me", "Crypto to watch". The website's crypto word-search data is a product of Google's data, sieved into their platform through a specialized online tool.
It is well known that a phenomenon known as "folk metrics" affects the price of cryptocurrencies, making it highly synchronized with the fluctuations of crypto-themed internet searches. This is especially true with the observation of Bitcoin price in comparison with its related Google searches.
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Over the past few years, crypto has rocked the financial world, and there has been a series of reported observations to support this claim.
Mostly, the reports are compiled using Google Trends and other like platform ratings as reference material.
A similar study was conducted at Semrush, a renowned SEO and Marketing Campaign management company. It was discovered that there is a very clear relationship (over 80%) between the fluctuating price of Bitcoin and its related searches on the web. Anytime the search frequency goes up, there is usually an observed period of one week before the prices follow the same trend and go up.
This close synchronization points to the obvious fact that the search frequency and crypto exchange values share some symbiotic relationship and move in tandem.
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It's easy because an increase in interest means a potential increase in investors, and we all know how high demand affects commodity value in economics. It's no different.
Early in September of 2019, the word "Bitcoin" soared relatively higher on the Google Trends website, and it presumably linked the artificial trendsetters to Romania. Romania, because a greater percentage came from there, and compared to the country's usual traffic, it was unlikely natural.
It was also believed that people who perpetrate these actions likely use VPN to cover tracks while artificially running up the stats.
At Semrush, it was also observed that some crypto-related terminologies and keyword searches could be artificially manipulated to rise as a breakout query. This was also backed by Bendik Schei of Kryptografie, a trusted news source. At times, some Bitcoin scams are a product of or indirectly related to those top breakout queries on the list. This can be particularly seen with artificially boosted related phrases and queries such as "bitcoin moon," "cryptocurrency arbitrage VIP," etc.
From research, it was also seen that a greater percentage of people are more interested in knowing the prices and exchange platform traffic (probably to know the interest ratio) when checking about crypto online.
The information compiled from the Google search trends and other similar analysis platforms on crypto can be used for research purposes by individuals and corporate bodies for forecasting and predicting market trends.
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The price of crypto is never determined by one single entity. Be that as it may, one can also see the influence of Social Media, news, and rumors be it true or false. This was evident a few weeks back when Elon Musk, the CEO of Tesla, commented about Bitcoin on his Twitter page and Twitter bio. The price of Bitcoin immediately soared over 30% within a few days. Although the thrill he created was short-lived, it was obvious what happened and what led to it.
During periods of economic instabilities and financial turmoil, people have recently learned to solicit crypto as the next best option to maintain monetary value instead of spot metals (Gold, Silver, etc.) like in the past. This was most recently seen during the U.S elections and when the Indian government was demonetizing, to name a few.
These actions can also affect the price of the most purchased coin, in this case, Bitcoin.
Among the popular cryptocurrencies, Ethereum also had a good number of related searches on the net. Although the price difference doesn't tell the full story, it came close enough to be as popular as Bitcoin and following the same search frequency trend.
If you see below, it makes a lot of sense that the market price action of both Ethereum and Bitcoin follows the search trends closely, by a few days or weeks. You can even predict the period around which Elon Musk made his call, assuming you were oblivious of his comments.
Conclusion
The frequency with which people search the internet through search engines directly or indirectly imprint on the price fluctuations of Cryptocurrency. This can be clearly seen with the trends of the popular coins. This research on popular crypto keywords also shows, through the graph readings, that a lot of individuals are getting more interested in Bitcoin over the years to either learn more or buy more.
Either way, it leaves a positive mark on the overall price. Even though many cryptocurrencies and related keywords are gaining some limelight through web searches since Bitcoin, such as; Ether, Ripple, DeFi, Blockchain, ICOs, Bitcoin still leads the pack by a mile, at least on all fronts.
