Due to heightened investor nervousness at the time of the selloffs, searches for the phrase “Bitcoin dead” online reached an all-time high.
Google search results show that the worldwide crypto community has begun to shift its focus away from Bitcoin (BTC tickers down $19,277) and toward Web3.
Crypto investors and aficionados rely on surfing the web — revealing their actual sentiments in real-time — to stay up to date with decade-long breakthroughs ranging from blockchain-based applications to nonfungible tokens (NFTs). Due to a surge in investor fear at the time of continued sell-offs, searches for the phrase “Bitcoin dead” most recently reached an all-time high.
Global Google searches for Bitcoin have fallen to their lowest level in more than a year as a result of the protracted bear market. Google searches for Web3 on the other hand have accelerated and reached an all-time high in terms of peak popularity in 2022.
Source: Google Trends
As previously said, there is a 72 percent interest in Web3, compared to a 27 percent interest in Bitcoin at peak performance.
A closer analysis reveals that El Salvador has the highest level of interest in Bitcoin (based on Google searches), with communities in Nigeria and the Netherlands providing support. But when it comes to Web3 searches, China tops the list.
It’s interesting to note that Nigeria ranks among the top three nations for Google queries related to Web3 and Bitcoin. In order to support local interest, the Nigerian government and cryptocurrency exchange Binance recently held preliminary discussions for a crypto-friendly economic zone.
Google introduced a new service on October 11 that enables users to look for information on Ethereum wallet addresses.
Well done, blockchain address is now available in Google Search! pic.twitter.com/7IuKv1gddR
— Han⚡️ (@hhua_) October 11, 2022