Bitcoin, ethereum and litecoin have seen an explosion of interest this year as their prices have soared, according to internet search engine data provided exclusively for This is Money.
There has been an incredible surge in interest of the three cyptrocurrencies – with a 4,287 per cent increase in searches for litecoin in 2017, statistics from Hitwise Monitor show.
It analyses the online behaviour of 3million Britons, using the likes of Google, Bing, and app data. Bitcoin has seen an 819 per cent rise in interest and ethereum 2,371 per cent.
Bitcoin boom: There has been a 819% rise in 2017 of people searching for bitcoin online
The increase in searches for the cryptocurrencies on the internet are still dwarfed by the percentage growth of each online currency.
The value of both ethereum and litecoin have risen around 7,000 per cent since January to $730 and $321 a coin respectively, while bitcoin – the most familiar of the bunch – is up more than 2,000 per cent to a huge $19,000 a coin.
Bitcoin was created in January 2009, litecoin October 2011 and ethereum July 2015.
The data also shows that the number of people searching for bitcoin has increased 120.3 per cent in the last month – and the price has doubled in three weeks.
Ethereum searches are up 110.2 per cent and litecoin 199.5 per cent.
Bitcoin: The top graph shows how searches for bitcoin have boomed in recent weeks – and the price has surged in line with this trend
In the last month, searches for ‘bitcoin wallet’ have increased 147 per cent and the four most popular terms to search for with bitcoin is price, mining, cash and wallet, according to the comprehensive data.
Furthermore, it shows it is the younger generation searching more about crpytocurrencies than any other age group.
Ethereum: There is also a similar pattern with the number of searches for ethereum versus its price
The statistics show that 18-24 year olds are 25 per cent more likely to search for bitcoin than the average population.
This is even more pronounced when split by gender – 18-24 year old males are 41 per cent more likely.
The next age group – those between 24-34 – are slightly less to look, but still 12 per cent more likely than the average population to engage with bitcoin, Hitwise says.
Litecoin: The cryptocurrency, launched in 2011, has seen the biggest surge in internet searches this year
Meanwhile, those in London are more likely than any other region to search for bitcoin, Wales the least.
According to Hitwise, five of the websites people are most likely to visit after searching for bitcoin are bitcoin.org, Wikipedia, CoinDesk, topbrokers.trade and Youtube.
Bitcoin has almost doubled its price in just three weeks – prompting further warnings from experts of a dangerous bubble.
The online crypto-currency hit a high of $19,757 before dropping by more than $1,000 yesterday.
CME Group became the second US exchange to take bets on the future price of bitcoin, in a major boost for its credibility.
But seasoned market followers and watchdogs continue to have major concerns about the volatile investment, saying punters are putting their life’s savings at risk.
France has called for the G20 group of major economies to discuss bitcoin regulation at next year’s summit in April.
And Lars Rohde, governor of the National Bank of Denmark, said: ‘You have to stay away from bitcoin. It is dangerous.’
Sopnendu Mohanty, of Singapore’s monetary authority, said: ‘Bitcoin has no natural intrinsic value.’