Bitcoin Bull Effect: Google Search Trend Interest For “Cryptocurrency” Reaches 12-Month High
- Huobi app is currently the 7th hottest searched keyword in Chinese iOS App Store.
- Worldwide Google search interest for “cryptocurrency” hits 12-month high as BTC price breaks $10k
Bitcoin price is enjoying a bull rally as we continue to make new all-time highs. Today, BTC jumped to yet another high of 2019 at $11,445. This has been going for the past 90 days, with the recent spike in mid-June as we break through $10,000, a level that is to trigger FOMO.
On the back of this surge in Bitcoin price, the search interest for “cryptocurrency” on Google climbed to 12 months high all across the world.
Worldwide Google search interest for “cryptocurrency” hits a 12-month high in tandem with BTC price
Google search interest which is often used to gauge retail and general investor sentiment around cryptocurrencies has started picking up. This notable surge that can be seen in the chart in the form of a straight upward trajectory picked up in the last few days as the price of the leading cryptocurrency rose past $10,000.
During this time, Facebook launched the website and white paper for its stablecoin “Libra” that received significant coverage in worldwide mainstream media. Experts called this development a positive factor for cryptocurrencies as the entry of such big players will help in driving the adoption of bitcoin and digital assets and also legitimizing the industry.
However, while the recent interest in the digital assets has hit a 12 month high, the search interest in the space still remains well below peak levels that were seen during 2017’s bull run when BTC hit $20,000.
Another related development is shared by cnLedger that states the app of Huobi, a cryptocurrency exchange is the 7th hottest searched keyword in Chinese iOS App store.
Bulls are back? According to online data service providers (such as Qimai and Kuchuan), crypto app Huobi is now the 7th hottest searched keyword in Chinese iOS App Store.
— cnLedger (@cnLedger) June 24, 2019
This is when BTC price has started to take off however it is only the beginning and bitcoin has a long way to go this time, as we target a level as high as a trillion dollar market cap for the flagship cryptocurrency.