- The last time after such a decline, a bullish rally began.
- However, now in parallel, requests for AI are growing.
- This means that many investors are moving into a new area.
Cryptocurrencies have recently enjoyed low interest among Google users. The number of such requests has fallen to levels last seen in 2020.
Record demand for crypto-themed was seen during the 2021 bull market. This interest continued until 2022, but then the bear market came and requests began to fall.
In 2023, the weakening continued. This was not helped even by the strong growth of BTC and ETH in January.
Interestingly, the level of search for information about cryptocurrency in the Google browser has fallen to the level that was last seen in 2020. At the time, crypto assets were on the verge of a huge rally. Whether history repeats itself this time, time will tell.
AI in the spotlight
It is possible that the interest in cryptocurrencies “stole” the hype around artificial intelligence. The popularity of requests with the words OpenAI and ChatGPT is growing steadily. Especially after the company has a free app available for general use.
Therefore, it can be assumed that the attention of some investors has switched from cryptocurrencies to projects related to artificial intelligence.
Yesterday, OpenAI created a fund that will sponsor AI startups. They allocated $175 million for this. Meanwhile, private investors are more likely to invest in tokens associated with neural networks.
