Five of the Most Googled Cryptocurrency Questions and its Significance


Five of the Most Googled Cryptocurrency Questions and its Significance

CRYPTO ─ The cryptocurrency market is yet again on the verge of a further massive sell-off. In just two weeks, its flagship coin, Bitcoin (BTC), has lost about 20% and is now trading at its dreaded support price level of just around $20,000 ─ a far cry from its newly established rally high of $25,000 on the 15th of August. Indeed, this recent blow to the already beaten market caused a stir of emotions among market participants.

Nevertheless, there is no doubt that a lot of “hype” surrounds the market despite its current predicament. With this, a massive uptick in google searches regarding search terms with “cryptocurrency” or “crypto” has risen. Thus, let’s explore five of the most googled cryptocurrency-related questions compiled by a Global Finance Publication, CoinTelegraph to see the current trend as well as the future implications this might have to the industry moving forward.

The Five Consequential Questions 

1) “What is Cryptocurrency”

Despite its more than a decade-long existence, the number one question remains about its very nature. This question’s current global search volume (GV) is an astonishing 256,000 GV, overshadowing the second-most searched query by 470% or 4.7 times. This represents the influx of novices learning about the relatively new market and investment vehicle.

2) “What is Crypto”

A yet another “What” question is interestingly the same as the number one. “Crypto” is just a shorter term for cryptocurrency and is what most people coin when discussing the market, especially in an informal manner. The current GV of this question is 54,000. Therefore, adding this to the first question would equate to a total of 310,000 GV. Again, the question highlighted the growing curiosity regarding the very essence of this “new currency.”

3) “How to Invest in Cryptocurrency”

With a total GV of 44,000, the first “How” question interestingly does not pertain to how cryptocurrency works but rather how one can invest (and subsequently make money from it). Thus, we can see how profit-motive questions triumph. Invertedly, investing in something we have no full comprehension of could lead to disastrous outcomes.

4) “What is Crypto Mining”

With a total GV of 37,000, the fourth most searched term is another money-making question that the blockchain system enables. Crypto Mining is done by repurposing computers, especially the old ones, into mining networks that produce passive income over a period of time. Thus, we can see that even the more “passive” approach of making money through the blockchain system is among the top five most searched crypto-related questions.

5) “How to Buy Cryptocurrency”

Lastly, with a total GV of 36,000, a more specific counterpart of the number three question, “How to invest in Cryptocurrency,” occupies the top five position. Here we could gauge how individuals transition from curiosity to actually buying cryptocurrency coins and tokens in a crypto exchange or platform.

Prospect of the Once Trillion-Dollar Market 

Due to the massive sell-off in the 2nd quarter of the year, the overall cryptocurrency market valuation fell below its landmarked one trillion-dollar value. Thus, market liquidity, as well as crypto companies’ solvency, have significantly been affected detrimentally. Nevertheless, as we have explored, this does not mean a falling trend when it comes to the rising interest in the market. In fact, more and more people are jumping into the market with their brightest prospects for success.

Of course, the information campaign being done worldwide regarding the industry has proven to be successful as countless crypto projects have been pioneered by tens of thousands of innovators all over the world. However, this diversity does not equal “quality,” for even the top crypto projects have since failed just this year. At the end of the day, Cryptocurrency remains to be a volatile and highly speculative endeavor that still needs ample amount of time to mature, especially during this ongoing bear market period.

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