Most Popular Bitcoin Trend Indicator Google Marks 23rd Anniversary

Google, a leading indicator tracking the popularity of bitcoin (BTC) and other cryptocurrencies, marked its 23rd anniversary on Monday.

Google was founded by Larry Page and Sergey Brin, both students at Stanford University. For most of its 23-year history, Google has been one of the main portals to the internet.

In the wake of cryptocurrencies, Google has become the primary way to search for new coins, track market trends, and learn how to buy cryptocurrencies.

Since Internet search data is a great way to track user behavior, Google Trends has become a reliable source for understanding user interests in a near real-time manner. Traders use the tool to analyze the popularity of search queries over a specific period of time to identify emerging patterns.

Initial coin offerings (ICOs), decentralized finance (DeFi), and non-fungible tokens (NFTs) all experienced Google Trends spikes before becoming a major part of the crypto ecosystem.

A quick search for bitcoin reveals that internet user interest almost overlaps with bitcoin's price swings. A similar overlap can be seen in the chart of Dogecoin (DOGE).

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

The search giant has since softened its stance on the issue, announcing that regulated entities can once again run encrypted ads. While the company still prohibits DeFi ads or cryptocurrency-related celebrity endorsements, advertisers registered with the Financial Crimes Enforcement Network can advertise their cryptocurrency exchange and wallet services.

Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness. In view of the fact that China has not yet issued policies and regulations related to digital assets, users in mainland China are advised to be cautious in digital currency investment.