Anyone who wants to learn basic things about Bitcoin or answer questions will probably turn to the world’s most used search engine, Google. For this reason, the search metrics provided by this platform have become a measure of the currency’s popularity and even possible price movements.
Google is currently collecting unusual data: Interest in Bitcoin in Google searches reached levels not seen since November 28 on October 28th. At the time, Bitcoin and cryptocurrencies were experiencing a strong bear market caused by the bankruptcy of major companies such as Celsuis and the FTX exchange.
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According to data from Google TrendsIn 2023, the word “Bitcoin” did not receive that many requests in the entire year of 2023. This increase in interest comes with an increase in the price of the crypto asset of around 20%in view of the rumors about an approval of the ETF (Exchange Traded Fund) applied for by the investment company BlackRock in the USA.
Another peak in search queries was in March 2023, but did not reach the level of the end of October. At the time, major American banks such as Silvergate Bank and Silicon Valley Bank suffered billions of dollars in losses, leading to major instability in financial markets, CriptoNoticias reported.
Where were “Bitcoin” searched most often on Google?
Last month The users who contributed the most to the growth of the term “Bitcoin” on Google live in El Salvador and Nigeria. This is followed by Brazil, the Netherlands and Slovenia. If you limit the search to the last seven days (October 22nd to 29th), Switzerland is also one of the countries with the greatest interest in Bitcoin.
The day with the most searches was October 23rd, when the BlackRock and Ark Invest ETFs listed with the United States Clearing and Settlement House. This decision increased the chances of this financial product receiving approval from the Securities and Exchange Commission (SEC) of this country.