Bitcoin was trending yesterday on Google Searches with the currency being in the top five words Americans were looking for, attracting more than 200,000 enquiries. Ethereum was not far behind, ranked around the 16th.
This is the first time a digital currency has made it to Google trends, a place usually reserved for the latest blockbuster movie, hottest song, or a nationwide political event. As such, is Bitcoin and Ethereum now at a tipping point?
The level of interest both currencies have been attracting in the past two months has been the highest ever. Ethereum has increased in market cap from $1 billion to $17 billion, overtaking Twitter. Bitcoin has doubled in price, rising to an astonishing current trading price of $2,240.
It is a height many predicted, but few actually believed. Bitcoin’s market cap is now more than all digital currencies combined just a month ago. The current market cap of all digital currencies, in turn, has risen to $80 billion.
People are flocking and interest may have reached national levels. For the first time ever, a bitcoin or ethereum related event has been trending on twitter suggesting this space has now considerably expanded.
Consensus, one of the biggest event in this space focused around blockchain technology and its public use in digital currencies like bitcoin or ethereum was trending yesterday in America.
All these facts suggest this space is most probably at a tipping point, which means that nearly a decade after the invention of the first decentralized currency issued by code not governments or companies, it has finally come out of the fringes and made it to the mainstream.
The primary reason is most probably because blockchain technology now finds a wide range of uses far beyond just money payments. Ethereum especially, because of its smart contracts capabilities, has brought back the dream of the 90s internet.
That means the best of the current generation are no longer working on how to make you click some ads, but have returned their focus on how to disrupt industries ranging from music and gaming, to cars and manufacturing, banking and payments clearing, to supply lines, energy, oil, and almost every industry.
It’s an ethereum spring this space well deserves, but whether it now accelerates even higher or cools down a little bit remains to be seen. What is clear is that the tipping point has been reached. Large scale work has now begun to transform the world for the better for all.