Global Bitcoin Search Volume Seems Higher Than 2017

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According to data collected by Brad Michelson, senior marketing director of leading trading and investing platform eToro, the monthly global Bitcoin research volume in December 2017 was lower than in November 2020.

Citing data from SEO data provider SEMrush, Michelson said that the global monthly Bitcoin-related search volumes as of November 2020 were 8.9 million. That’s 356% more than the BTC search volumes recorded in December 2017, which stood at 2.5 million, according to Michelson’s data.

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Michelson pointed out a huge gap between data from SEMrush and Google Trends, a popular tool for analyzing the popularity of top search queries in Google:

“One interesting thing that the data from Google Trends did not show is that the monthly global Bitcoin volume in December 2017 was actually lower than what we are seeing in November 2020.”

Indeed, according to data from Google Trends, Bitcoin’s search volumes to date are far from the all-time highs recorded in December 2017, when Bitcoin hit its all-time high of $ 20,000. According to Google Trends, the Bitcoin search index represents only 20 points in November 2020, compared to 100 points in December 2017.

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Five-year graph of Google search interest in “Bitcoin”. Source: Google

If this is true, the data from SEMrush apparently correlates with a major increase in the number of new Bitcoin addresses registered. On November 18, the number of registered BTC addresses per hour reached nearly 25,000 addresses for the first time since January 2018, according to data from cryptocurrency analysis service Glassnode.

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