According to the latest data, the Bitcoin search volume has topped the value witnessed in late 2017. The rising search volume for the world’s leading digital asset corresponds to the rising interest of world investors towards Bitcoin.
Brad Michelson, marketing manager at investment company eToro, confirms that search volume recorded in November 2020 is a lot more than the value witnessed in December 2017 when the price value claimed $20,000, the all-time high position.
Data of SEMrush and Google Trends
He also compared the data of both Google trends and SEMrush and finds a clear difference between them. He mentioned the statistics calculated by SEMrush which unveils the search volume of the primary cryptocurrency has reached 8.9 million. The value showed by SEMrush is 356% more than the figure recorded in December 2017 as the search volume was standing 2.5 million at the time.
But on the other hand, data from Google Trends claims search volume of December 2017 is greater than the figure recorded in November 2020. “An interesting thing that Google Trends data hasn’t shown is that the monthly global volume for Bitcoin in Dec. 2017 was actually lower than what we’re seeing in Nov 2020,” Michelson said.
Google Trends is showing 20 points for global Bitcoin searches in November 2020 and is presenting 100 points for December 2017 when the price topped an all-time high value.
Google Shows Data of One Keyword
Michelsonthat says that Google Trends is only showing data of one keyword “Bitcoin” but not related words. “That data is excluding all the other related keywords and search terms associated with bitcoin. That’s why the Semrush data is much higher,” he explained.
Besides increasing search volume, the number of Bitcoin addresses is also moving upward at a rapid rate amid the latest Bitcoin bull run in which the price value has reached above $18,000. According to the data given, on Nov.18, the registration of new addresses per hour hits the highest value since January 2018. Per Glassnode, 25,000 new Bitcoin addresses register per hour on November 18.