Bitcoin Is The Hottest Trend on China’s Baidu, Can This Affect BTC or Crypto Market Prices?
This is a great time to invest in Bitcoin. Prices have suddenly surged $1,000 USD recently and this made the token popular again. However, Bitcoin’s popularity is not only limited to the places in which you can legally trade Bitcoin. It looks like the token has been making the headlines in China, too, where Bitcoin trading is banned by law.
Baidu, which is basically the Chinese Google, saw Bitcoin become the hottest trend of the day in its new keyword list. Bitcoin received 9715 points on the platform. The second term in the search engine was with 2236 points, only a fourth of BTC’s popularity in the country.
Despite the country’s harsh stance on the asset, it looks like the Chinese are simply not ready to forget Bitcoin just yet. The government has backed the People’s Bank of China in banning the asset back in 2017, but not even the Great Firewall of China (the government’s control over the internet) was able to deter people from getting interested in BTC.
Trend Is Similar on Google
The rest of the world is obviously also very interested in Bitcoin right now. Bitcoin has reached a lot of weekly interest right now and one of the most popular April Fool’s rumors was that the U. S. Securities and Exchange Commission (SEC) had approved the so awaited Bitcoin exchange-traded fund (ETF).
There is a certain belief that Bitcoin does well when people are looking for it on Google. The idea is based on the fact that stocks generally go up when people search for them a lot.
People are largely very curious about this latest Bitcoin price rally, so they are trying to learn the whys and the hows that move this technology. This has caused all the search engines to put it on the spotlight again after a year in which the interest for Bitcoin and crypto assets was vastly diminished during the bear market.
At the moment, the most popular search in both Google and Baidu is “Bitcoin price”. After that, “bitcoin news”, “bitcoin stock” and “BTC USD” are the most popular. Curiously, no one seems to be looking for “how to buy Bitcoin”, which was very popular in 2017.
It looks like the BTC boom is not exactly making people buy BTC, which is normal, since the asset just lost most of its value, but people are starting to get interested in it again and this always leads everybody to end up buying a piece of Bitcoin eventually.
At the moment, some of the countries who are most interested in BTC are Nigeria, the Netherlands, Austria, South Africa and Switzerland. The United States and India, two countries with large populations, are curiously not in the Top 10. In India’s case, this may have something to do with the national crypto ban.
— cnLedger (@cnLedger) April 4, 2019