If there are probably two phrases that are being used the most Crypto in just any sentence it is probably the words “Buy“ and “Sell“ and we would think that there are obvious correlations for those words. “Buy“ is obviously associated with a bull market where we all get those bullish predictions and calls to just keep buying while “Sell“ is obviously associated to a bear market where people are already bearish or short and like to hear even more bearish predictions.
Now, it is very interesting to have a look on those by the metrics of google searches, under the phrase “Buy Bitcoin“ which is probably the most used one in association to buying Crypto and being bullish.
From Google Trends on “Buy Bitcoin“
Just as some would expect in a bear market this phrase is just dropping and dropping. Being down roughly 80% from its 5-year peak in late 2020 and early 2021 (the 2018 peak was even higher which is quite interesting). This actually mirrors the sentient of this bear market and even shows the effect of some small relief rallies and the effect of black swan events like FTX which actually put us here. Surprisingly the recent rally just barely lifted this metric over the past days which is also bullish as thankfully there is no big euphoria.
From Google trends on “Buy Bitcoin“
For a bonus here we also have the Interest by Region metric showing where this phrase is used the most right now. Mostly African nations reign supremacy here as Nigeria is #1 which may have to do with their CBDC and how people dont like it there. Popular ones like the USA is on #13 and UK on #20. Surprise entries include Mongolia at #6 and North Macedonia at #8.
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