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ALERT! Bitcoin searches in Google hit the lowest point since may 2017

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There is no doubt that 2018 has been a tough year for Bitcoin and the rest of the cryptocurrencies. As the price slump continues to take a toll on the price value of various virtual currencies, a research report that was done on Google Trends has disclosed that there is a growing percentage of the general public losing interest in digital assets, including Bitcoin.

Specifically, the researchers made headways that searches for the two top virtual currencies in the crypto market, Bitcoin and Ethereum, has witnessed sharp depreciation in recent months. As per the findings of the research, fewer people are showing interest in searching the word Bitcoin on Google than at any time for about a year. Information gathered from Google Trends indicate that Bitcoin’s search term is advancing towards historic low levels of popularity never seen since May 2017.

This comes as a surprise as the market has been flooded by constant streams of price analysis articles that claim Bitcoin fortunes are going to skyrocket to a million dollars at any time while the endless cries to decentralization have been on an all-time high. What the findings of the study done on Google Trend tell us is that the interest in virtual currencies has gone down massively over the past few months.

According to the research findings, Bitcoin searches have depreciated by more than 60 percent since the beginning of 2018, marking their lowest level in recent history. The Google stats story stand to be the same for the second largest virtual currency after Bitcoin in the crypto market, Ethereum.

People are not only searching less for Bitcoin, but they are also venturing less into the trade of cryptocurrency assets. As it was reported in August by many reputed media sources, the graphics-card producer, Nvidia, established that the sale of its cryptocurrency-dedicated graphics card had depreciated from its initial price of 289 million US dollars in Q1 of 2018 to 18 million US dollars in Q2.

Trade volumes have also devalued sharply since the peak milestone that was experienced in the first weeks of January this year. During the early days of January, the market capitalization of the entire cryptocurrency market was equal to just over 835 billion US dollars. Today, the story is different as the whole market cap of the crypto market currently stands at about 210 billion US dollars, an estimated decline of 75%.

Exchanges have not been left behind in the dismal crypto performances recording precipitous declines in trade volumes. For instance, trading on one of the largest and most significant crypto exchanges in the world, Coinbase, recorded alarming trade declines of 83% since January 2018.

Is this the beginning of the end for Bitcoin and cryptocurrencies in general?

There seem to be two ways of looking at the current situation. Pessimists might want to convince us that virtual currencies are set to fall further and fade into obscurity to never come back again. On the other hand, it might be prudent to look at the situation as a stumbling phase for Bitcoin as well as other cryptos following an extended wild-west period of exchange. The virtual currency market is coming into its own.

During the last weeks of 2017 and early 2018, the market witnessed huge price surges in the cryptocurrency market being driven by people trading under the deception of the greater fool theory. Many people invested in cryptos thinking people would continue to purchase after them, driving up the prices and facilitating them to sell.

Up until February, the greater fool theory strategy might have worked. As Bitcoin has been reasonably constant since then, individuals trading using the argument of the greater fool theory would have been either less or totally uninterested in trading.

Although the get rich quick mentality exists in many people who venture into cryptocurrency still lingers on, it has far less than it was 12 months ago and that is a good thing as both the crypto-king Bitcoin and market will only attract individuals and traders who are in it for the long haul.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Geralt/Pixabay

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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