Google Trends shows a drop in searches for DeFi and Bitcoin

Interest in Bitcoin is waning according to Google Trends, and just as with interest in DeFi, search volume interest generally correlates with falling prices.Google interest in Bitcoin is declining, and attention to the world of decentralized finance (DeFi) is also shrinking, if Google Trends data is anything to go by.

In the first week of September, Google gave Bitcoin a popularity score of 51 out of 100, compared to its popularity over the past year, when Bitcoin peaked at 100 in mid-May, around the time of the Bitcoin halving, and when Bitcoin's price fell in early September, interest in the largest cryptocurrency by market cap fell to 41.

How about DeFi, short for decentralized finance, the hot word of the summer? Curiously, interest in the search term peaked in late March, when Bitcoin was at its lowest point of the year, its price collapsing amid the uncertainty caused by the coronavirus pandemic.

Then, interest dropped off a bit over the next few months until the first week of September when it spiked back up to 99/100. From there, it lurched like a cheese wheel down a hill, dropping to 65/100.

That’s thanks to the DeFi explosion this summer, when investors poured billions of dollars into the latest cryptocurrency craze in just a few months.

As interest in Bitcoin has remained relatively stable this year, interest in Ethereum is expected to boom around the world.