Bitcoin And Ethereum Losing Popularity / Comparison With USD And EOS
According to Google trends the two main cryptocurrencies are losing ground in the last 90 days and since Thanksgiving their popularity is at their low. Compared with the same period from last year we are still better off, but overall searches are decreasing and I doubt to the reason being that people know all about Bitcoin and Ethereum already.
90-day Bitcoin Popularity, Google Trends
90-day Ethereum Popularity, Google Trends
As you can see the charts are pretty similar Bitcoin expectedly outperforming Ethereum. The interest thing is that there are a lot of spikes in searches, if we compare it to the searches for USD they are totally different.
90-day USD Popularity, Google Trends
It still has some spikes but overall it's very steady. For me this indicates that people are so familiar with USD that they don't need to search it every now and then to understand the concept of it. I think that when BTC (or another crypto) reaches that level, we will be a lot closer to a financial revolution.
EOS
The thing that surprised me pleasantly was the never-ending and continuous interest in EOS. The majority of searches came from China and countries like Germany and Switzerland are also very interested in the blockchain. I think this popularity is due to the fact that EOS really can be a game changer for the whole crypto universe and also the fact that you can use your already acquired knowledge to code on EOS. EOS is also still an ICO which only adds to the mix.
90-day EOS Popularity, Google Trends
It is very important to follow the trends because this is how we get to know what people around the world are interested in. Currently cryptos are not the hottest topic and this is understandable, what we should never stop doing is spreading awareness that this is the way to go :) Keep fighting the good fight, friends !
While the number of searches for bitcoin and ethereum may be leveling off or even dropping, that may not necessarily mean that their inherent "popularity" is declining.
In January 2017, few people knew anything about cryptos, so once those coins started skyrocketing in value, more people began to search those terms.
But even now, I talk to many people who still have no idea of what bitcoin is, not to mention other cryptocurrencies. I believe that once the prices start to climb again, the number of searches will again rise.
And while bitcoin is proving to be less than ideal in comparison to other cryptos, it retains its first-mover advantage, and will most likely continue to increase in value -- for a while yet.
I agree, the hype we had in December and early January had a lot to do with the searches, but still we don't want people to search for crypto's only when they can make a quick buck of it. That is why I made a comparison with USD. The ideal purpose of BTC is to be a digital payment method, compared with the tradiitional payment method, we have a very different trend.
I also believe too many people are absolutely in the dark when it comes to crypto and blockchain. First mover advantage will secure Bitcoin being in Top 3 at least until 2020 in my opinion.
Thanks for commenting, appreciate it :)
This is the case of buying the virtual currency "Bitcoin" in early 2017, which doubled its price during a record period, which caused a sensation in the financial markets and prompted many to search for this investment
Yes, the hype had a lot to do with the popularity.
I guess this was bound to happen. As people who missed out the opportunity to purchase bitcoin when it was barely $1 or more, don't want to make the same mistake with other Cryptocurrencies in the market. And those who don't have enough cash to get hold of bitcoin see it as a coin that they could only dream to have, hence instead of wasting time researching on what's seems impossible why not get hold of the one you can purchase now. A bird at hand they say is worth more than a hundred birds in the bush.
if you are going to purchase other coins, you still need to know about bitcoin IMO. Currently there are many projects that are at a great discount.
Hi.
Thanks for sharing the information. I do think that there are a lot of worthy competitors for Ethereum which are still flying way low under the radar. EOS is quite popular and accomodates the top 20 spot in coinmarketcap, but I would like to inform you guys about another amazing project called Achain. I am not going to talk about it, you should research about it and come to your own conclusions.
I will definitely take a look at Achain! Thank you for your comment
Really good analysis, thanks for giving positive cum valuable information but i think that this time is not suitable to follow and invest in any cryptos. upvoted and resteemed.
Maybe wait for stabilization of the environment.
Your analysis is comprehensive and I have already followed you @ervinneb
I did a post about the bubble of crypto poping and it seems it may just be doing that.
I am not going to add a link but if you want to take a look it's for all to see.
You got a 4.74% upvote from @buildawhale courtesy of @ervinneb!
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