Google, the most popular Bitcoin trend indicator, is 23 years old

Google, the leading metric for measuring the popularity of Bitcoin (BTC) and other cryptocurrencies, celebrated its 23rd anniversary on September 27, 2021.

The search engine was founded by Larry Page and Sergey Brin while studying at Stanford University and has become one of the most important access points to the Internet during its 23 years of existence.

After the advent of cryptocurrencies, Google was widely used as the primary method for finding new coins, tracking market trends, and learning how to buy cryptocurrencies.

Since internet search statistics are a great way to track user behavior, Google Trends has become a reliable source for understanding user concerns in near real-time. . Traders use this tool, which analyzes the popularity of searches over a period of time in order to identify patterns as they arise.

Initial Coin Offerings or ICOs, Decentralized Finance or DeFi and Unusable Tokens or NFTs all saw a surge in Google Trends before they entered the phase-main segment of the cryptocurrency ecosystem.

A quick search for Bitcoin shows that internet users’ interest almost overlaps with the price movement of the largest cryptocurrency. A similar overlap can be seen in the Dogecoin (DOGE) chart.

Related: Google is partnering with NFT’s flagship Dapper Labs to support the Flow blockchain

Aside from neutral stats, Google’s stance on crypto mimics mainstream perceptions. In March 2018, following the infamous ICO boom, Google banned crypto-related advertising on its platform by updating its financial services policy.

Since then, the search giant has been more lenient on the issue, announcing that regulated companies’ crypto advertisements could be back on track. While the company still doesn’t allow DeFi advertisements or celebrity endorsements related to cryptocurrency, advertisers registered with the Financial Crimes Enforcement Network can advertise wallet services and give away money.