Bitcoin Search Volume Interest Balloons Higher than Number of Times Donald Trump is Googled
As the price of the most popular virtual currency substantially expanded during the last weeks, the interest for this virtual currency continued to grow as well. According to Google Trends, “Bitcoin” has registered more searches than
People Get Interested in Bitcoin
When the price of Bitcoin increases, people tend to search why the price of the virtual currency increases and what will happen in the future with this digital asset. According to Google Trends, it is possible to see that the interest in Bitcoin is reaching the highest point since December 2018.
At the same time, it is projected for Bitcoin to reach 100 in the near future after the price increase that the digital asset experienced a few days ago. The results shown by Google Trends are a good way to understand which is the interest that users have for the market and for the most popular crypto.
Indeed, to put it into perspective, Bitcoin is now more popular than other search terms that include companies such as SpaceX, Tesla, or the president of the United States Donald Trump, among others.
The countries that are registering the largest interest in Bitcoin include Nigeria, South Africa, Ghana, Netherlands, Austria, Switzerland, Singapore, and others. This shows that the interest in the digital asset is global rather than a local phenomenon.
A few weeks ago, a report showed that Twitter and Google Trends interest tends to predict Bitcoin price movements in the future. The volume of tweets and Google Search Volume Index (SVI) could be used by investors and enthusiasts to understand how the digital currency is going to be performing in the future. This report released by the Southern Methodist University explained that Twitter users tend to have a much more positive sentiment towards Bitcoin when the market falls.
The growing interest in Bitcoin and digital assets could be related to the fact that the virtual currency grew exponentially over the last few weeks. Although now it is registering a correction, Bitcoin enthusiasts expect the most popular digital asset to keep growing in the near future.
At the moment of writing this article, Bitcoin is being traded around $7,278 and it has a market capitalization of $128.86 billion. In the last 24 hours, the most popular digital asset lost 10% of its value.