The allure of cryptocurrencies has experienced a tremendous blow on a global scale, plummeting to depths unseen since the distant echoes of December 2020, as unveiled by the wealth of knowledge harvested from the depths of Google Trends.
The meticulously gathered data reveals a current score of a mere 9, mirroring the haunting numbers that pervaded the November of 2020—a period etched in the annals of history as one of the darkest epochs of public involvement with the captivating realm of crypto.
Allow me to whisk you back to the captivating chronicles of May 2021, a time when the cryptocurrency industry danced with an unbridled vitality. Search inquiries soared to a resplendent zenith, basking in the glorious embrace of a perfect 100, mirroring the fervor and euphoric frenzy pulsating within the very veins of the industry.
It was an era of unparalleled expansion, a symphony of records shattered as both Bitcoin and its myriad of altcoin brethren scaled unfathomable heights in the realm of value. The very air we breathed was saturated with the tantalizing promise of blockchain technologies, captivating the hearts and minds of not only retail investors but also drawing forth the might of institutional investors, lured by tales of astronomical profits and the bewitching charm of non-fungible tokens (NFTs).
Yet, ever so subtly, a shadow began to cast its dark cloak over the horizon in the aftermath of November 2021. It was during this period, when Bitcoin, the flagship of the crypto realm, ascended to its pinnacle of approximately $69,000, that the flickering flames of interest began to wane. A symphony of diminishing global search queries accompanied this descent, echoing at a somewhat diminished but still impressive scale of 78.
Thereafter, the enigmatic allure of cryptocurrencies gradually waned, save for a fleeting resurgence in November 2022, when the downfall of the prominent FTX exchange ignited a spark of curiosity within the masses. For a brief moment, the dwindling embers of public interest burst into a flickering flame, peaking at a local zenith of 19.
Fast forward to the present, where Bitcoin languishes at a meager $26,503, a heart-wrenching decline of 61.67% from its zenith. This harrowing plunge in value aligns tragically with the diminished global curiosity witnessed through search inquiries, thereby painting a somber tableau for the cryptocurrency industry, at least in the immediate vista of the short term.