The growing rally of Bitcoin has led to an interest in Bitcoin growing as well. The number of user searches to understand this digital asset has been growing, according to Google Trends.
The prices of the pioneering cryptocurrency and most altcoins have seen tremendous growth since the year began. With each passing day, the digital gold exceeds all-time highs and becomes increasingly popular. The action of individuals, governments, and companies has contributed greatly to the notable increase in price. There are a growing number of national authorities that perceive Bitcoin as a solution to some financial problems. At the same time, companies consider the asset to be one of the most interesting on the market.
User Interest in Bitcoin, According to Google Trends
Searches on Google, the most famous search engine in the world, are a parameter to analyze what people are interested in. In this sense, the number of searches for the term Bitcoin has been increasing for a long time. The most relevant point of the first cryptocurrency had been between December 2017 and January 2018. During that period, its price had reached a peak of almost USD 20 thousand, which currently looks a long way off.
Interest in Bitcoin in 2017
The Google table measures interest, taking 100 as the maximum value and 0 as the minimum value. For example, when Bitcoin reached its all-time high of USD 20 thousand in 2017, Mexico showed its interest in the subject with a figure of 100. However, in the rest of the region, only Bolivia and Brazil had the same result.
The approach to the cryptocurrency was 95 in Venezuela and 82 in Chile. Behind them were Colombia (72), Uruguay (72), Costa Rica (68), Peru (59), and Argentina (44). That situation has changed and invites people to think that BTC will continue to have the bullish trend that it has shown since December until now. Optimists consider that the value of the digital asset will reach USD 50 thousand. That fact seemed very unlikely but now it is closer than further away, given that the price of BTC exceeded USD 41 thousand per unit, according to data from CoinMarketCap.
Interest in Bitcoin in 2021
After the small disinterest disappeared in a large part of the Latin American countries, everything is a mixture of illusion and great expectations in 2021. Except for Brazil and Bolivia, the rest of the countries analyzed will reach 100 by the end of the month.
Brazil reaches a figure of 87, which is a relevant and conclusive number, while Bolivia barely reaches 40. The reason for this low record is that the Bolivian government is conducting a campaign to discourage the use of crypto assets. They claim that they are scammers’ tools that seek to take advantage of people. The results that Google shows are proof of the sustained growth that the main cryptocurrency in the market has had. There is an exponential growth in the interest of Latin America and the rest of the world. That interest will have a positive effect on the Bitcoin market, which is enjoying its best time.
By Willmen Blanco