Google Searches For Bitcoin Starting To Catch Up
Google Searches for ‘Bitcoin’ Starting to Catch Up With $10K Euphoria
“As Cointelegraph noted yesterday, from a wider perspective, the number of Google searches for “bitcoin” remain only around 10% of what they were in 2017 — the year of the top coin’s historic bull run, which peaked at $20,000 in December of that year.
The resurgent public interest is seemingly correlated with the renewed bull market, with bitcoin is currently trading at $10,881, up almost 35% on the month, according to coin360 data.
By country, the top five nations currently googling bitcoin are Nigeria, South Africa, Austria, Switzerland and Ghana — as compared with Uruguay, Dominican Republic, Nicaragua, Albania and Panama for Libra.
As Cointelegraph noted yesterday, the fact that Google trends data for bitcoin remains well below its former peak apparently suggests that retail FOMO has not yet become a major driver of the coin’s renewed price momentum. Instead, several parameters indicate that institutional demand for bitcoin is increasing in lockstep, and that network fundamentals are hitting all-time-highs.”