CRYPTO

Google, the most popular Bitcoin trend indicator, turns 23 years old


Google, the leading index used to track the popularity of Bitcoin (BTC) and other cryptocurrencies, celebrated its 2nd anniversary on September 23, 2021.

Founded when Larry Page and Sergey Brin were students at Stanford University, search engines have spent most of the 23 years of their existence as one of the primary entry points to the Internet.

Since the advent of cryptocurrency, Google has been widely used as a primary way to search for new currencies, track market trends and learn how to buy crypto.

Since Internet search statistics are a great way to track user behavior, Google Trends has become a reliable source for understanding users’ interests in near-real-time fashion. Traders use the tool, which analyzes the popularity of search queries over a period of time, to identify emerging patterns.

The initial currency offer, or ICO, decentralized money, or DFI, and the unwanted token, or NFT, all grew in the Google trend before the crypto ecosystem took over the mainstream.

A quick search for Bitcoin shows that the interest of Internet users almost overlaps with the price volatility of the largest cryptocurrencies. Similar overlaps are seen in Dogecoin (DOGE) charts.

Related: Partners with Google NFT Leader Dapper Labs to Support Flow Blockchain

Neutral statistics aside, Google’s position on cryptocurrencies mimics mainstream ideas. In March 2018, following the infamous ICO boom, Google banned cryptocurrency-related advertising on its platform by updating its financial services policy.

Since then, the search giant has softened on the issue, announcing that the regulated company’s crypto ads are good to go again. Although the company does not yet allow crypto-related DFI ads or celebrity approvals, advertisers registered with the Financial Crime Enforcement Network can advertise their crypto exchange and wallet services.