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Cryptocurrency interest has dropped by 80% in the United States, according to Google Trends data

In March 2022, interest in cryptocurrency fell to fresh all-time lows in the United States. The data from Google Trends reveals that citizens of the United States’ interest in cryptocurrencies has decreased in 2022.

The quantity of search interests in cryptocurrencies over time is expressed as a percentage of a point ranging from 0 to 100. This means that a score of 0 indicates almost no interest, while a value of 100 indicates that cryptocurrencies dominate inhabitants’ search behaviors in the United States.

In May 2021, the word ‘cryptocurrencies’ reached a value of 100. Several cryptocurrencies hit new all-time highs during this time period.

Source : Google Trends

ETH, the native asset of the Ethereum network, which crossed $4,000 for the first time, was the second-largest cryptocurrency by market capitalization. On May 12, 2021, ETH reached a monthly high of $4,362.35.

So, In May 2021, the trading volume of Ethereum (ETH) reached at $1.51 trillion. During the same time period, Bitcoin (BTC), the largest digital currency by market capitalization, saw impressive trade volumes of $1.97 trillion.

The decline in trading volume, which has been reflected in market prices. That’s, mostly due to declining interest in cryptocurrencies in 2022.

Then, In January 2021, the trading volume of Bitcoin was estimated to be at $2.15 trillion. In February 2021, this grew by 5% to nearly $2.26 trillion. So, This has a beneficial impact on Bitcoin’s price. BTC started at $28,994.01 on Jan. 1, 2021, and reached $45,137.77 on Feb. 28, 2021, a 55 percent gain in value in just two months.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.