Bitcoin Is Highest In Google Searches Since November
Bitcoin has been here for a while. Its existence proves to be steadfast, especially since it started trading above $5,000. As such, more eyes are set on the world’s leading digital currency. It is really not a surprise when it became the highest in Google searches since November last year.
Highest in Google Searches
According to the official report, the revelation came from a Google Trend data, which reveals that spike in searches. Interestingly, this milestone was single-handedly obtained on April 2 when the price of Bitcoin soared to nearly 20 percent. What is more, the percentage was achieved in a matter of one hour while clocking at about $4,961. The latter, in particular, is also the highest BTC got since November 19.
It is worth noting that the aforementioned data from Google Trend does not necessarily unveil the exact number of searches. However, the amount of world “Bitcoin” searches was able to reach at least 90 percent of what it was on November 20.
It is safe to say that the cryptocurrency was successful in sky-rocketing on that day. Interestingly, there is an apparent phenomenon. Basically, it was on that day when traders and the media alike were all searching for reasons as to why the world’s leading digital currency surged in terms of price.
But the surprising fact does not end there. It turns out that most, if not all, of the searches came directly from countries that may not necessarily be the origin.
Not Trivial At Face Value
Apparently, Google released a data that further unveils the largest amount of searches on Bitcoin. For starters, it was on April 2 and 3, and the searches on these days reportedly came from South Africa, St. Helena, Netherlands, Nigeria, and Austria. Unfortunately for countries like the United States, Canda, and the United Kingdom, they did not really crack the top 10 of most searches for the world’s leading cryptocurrency. They rank in the listing at 11, 12, and 17, respectively.
At face value, one might think that the significance of spike in BTC searches could be trivial. However, this is not really the case, especially since studies have shown a certain connection between the price of Bitcoin and its search interest. According to the findings of these studies, the low search volume periods tend to take place before large markups in price. And the latter, on the other hand, can be associated with Bitcoin’s titular market cycles.