Low Bitcoin Price Sparks Many Google Searches for Bitcoin Spike
After dropping to its lowest price since May this year, Bitcoin (BTC) has sparked new interest from many people who are using Google as their main search engine.
According to a Google Trends report, the term “Bitcoin” and few others associated with it have been searched more during the past week. At this point, “Bitcoin” has reached its highest rank since the end of October, seeing that back then, the BTC/USD traded at almost $10,000.
People in Africa the Most Interested in the Bitcoin
It seems last week, the most interested people in Bitcoin were from Africa, specifically from South Africa, Nigeria, and Ghana. The next 2 countries on the list were Switzerland and Austria. Their attention wasn’t only on the price of the stablecoin, but also on the “Bitcoin halving” term, especially after the October highs.
The Bitcoin halving event will take place in May next year and is considered a catalyst for all markets. Many analysts are predicting a new bull phase to begin before or after the 2020 halving.
Predictions Say Price Volatility Will Endure
The Bitcoin price changing often increases the interest in the stablecoin, while volatility tends to bring more press coverage, even in circles that aren’t interested in cryptocurrency. Ever since early last week, BTC/USD went down 20%, causing the monthly loses to reach a total of 30% at this point.
The statistician Willy Woo is saying volatility will continue for as long as the halving is approaching. He also mentioned the 2020 halving is different from the other 2 because Bitcoin is approaching bearishly. In the meantime, Google searches for the term “Bitcoin” and statistics for altcoins like Ethereum (ETH) and XRP continue to increase.