Bitcoin ($BTC) Search Interest Hits 12-Month High as Crypto Market Recovers
Search interest for the flagship cryptocurrency Bitcoin ($BTC) has surged to a 12-month high after the price of BTC dropped to a low below the $18,000 mark and swiftly recovered to now trade above $21,000.
According to Google’s data, searches for the keyword “bitcoin” have recently seen a high they hadn’t seen in the past 12 months, even with the flagship cryptocurrency trading above $60,000 late last year.
Google Trends uses an index-like approach to represent search interest, but doesn’t show exact figures. Nevertheless, it shows interest in the cryptocurrency went from 38 to 100 over the last two weeks, out of a total of 100 showing interest hasn’t been this high for some time.
Most searches for the flagship cryptocurrency, data shows, come from El Salvador, a country that made Bitcoin legal tender in September 2021 and has accumulated BTC for its treasury. Behind El Salvador are Nigeria, Georgia, and Turkey.
Google Trends data seemingly reflects the anxiety seen in cryptocurrency markets seen over the last few weeks, with interest in the cryptocurrency spiking as even searches for “Bitcoin dead” have been exploding in volume.
According to tracking websites, media outlets have pronounced Bitcoin is “dead” over 455 times since the cryptocurrency’s creation, with the oldest pronunciation occurring back in December 2010. So far this year, it has been suggested BTC is “dead” 15 times, while the total number of obituaries hit 47 last year.
As CryptoGlobe reported Kevin O’Leary, a celebrity investor known as “Mr. Wonderful” on ABC TV series “Shark Tank,” has revealed he is buying cryptocurrency price dips and adding to his Bitcoin ($BTC) and Ethereum ($ETH) positions, while commenting on how to deal with the crypto market sell-off.
O’Leary revealed he sees the crypto market downturn as a good thing and is doubling down on BTC, ETH, and other cryptocurrencies related to Web 3 projects, while acknowledging that not every single one of his investments will be a winning bet.
Meanwhile, former hedge fund manager Jim Cramer, who has in the past said he directly owned Ethereum ($ETH) and told viewers to consider investing in Coinbase stock (NASDAQ: COIN) in August 2021, has said he sees the price of Bitcoin drop to $12,000 in the future.
Featured image via Pixabay
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