Bitcoin Interest Grows, Leading to Highest Level of Google Searches in 8 Months
Interest Grows In Bitcoin, Leading To Highest Level Of Google Searches In 8 Months
The cryptocurrency industry thrives on popularity and interest in the industry. However, one of the biggest problems that crypto has faced is the lack of public knowledge. While the knowledgeable ones seem to be more willing to get involved in investing, the new surge of interest could mean good things for crypto. According to the trend explorer for Google, the number of searches for Bitcoin has reached a level that has not been seen since April this year.
The total number has not been revealed, but the last three days shows that the keyword “Bitcoin” has accounted for 17% of their searches. The last time this amount was seen was the same week that Bitcoin reached record highs around the $20,000 mark, which was from December 17th to December 23rd last year. Thought Bitcoin was experiencing a downward trajectory for the last few weeks, it finally started to go up in price after reaching $3,800. Presently, as of November 28th at 12:00pm, Bitcoin is trading at $4,357.94, which is an increase of 15.87% in the last 24 hours.
There’s been a lot of talk over the years that the Google searches have a connection with Bitcoin’s growing prices. It could even be the low price that has been bringing investors back, hopeful that they will see in increase in profits as a result. Still, not everyone is optimistic.
Brad Mills, for instance, posted to Twitter, saying,
“Bitcoin search volume has upticked slightly, but it doesn’t seem likely to be a green Christmas this year for #bitcoin. Bakkt could still save us with the Microsoft / Starbucks publicity, however I’m thinking we need to wait until either: 1) The next financial collapse 2) LN.” In another post, Mills comments that the increase in interest could be because, “as the media spams news articles about bitcoin's demise, it brings retail interest back.”