The data suggested that the rise in the searches came during last week when Bitcoin and the crypto market as a whole plunged to a record low level for the first time in three months. Besides that, Google analytics also includes related searches, meaning that the number of searches suggests a wider interest around the market than a particular word.
Meanwhile, crypto experts suggest that the bullish run of the second most popular crypto-token, Ethreum, could be behind the surge as it topped its record high and touched the $4,000 mark earlier this month. Available data suggest that the searches related to the second largest crypto asset by market cap also skyrocketed within this same period.
Not only that, the rise in the Google searches came a day after the awaited appearance of Tesla’s CEO Elon Musk on Saturday Night Live. Four days down the lane, Musk took to Twitter, and in surprising remarks, criticized Bitcoin and described it as a highly centralized token. Before going on to reveal that his auto car maker wouldn’t accept the leading digital token again.
— GoogleTrends (@GoogleTrends) May 19, 2021
According to the data provided by the Google analytics Twitter handle, the number of searches related to selling the crypto assets surged a record 400 percent on Thursday. Besides that, the searches related to the environmental effect of crypto mining also surged.