BTC Google Searches Again Soar As Price Goes Above $7,000

The value of BTC is a constant topic in the Bitcoin price news this week – explored by many analysts and expert traders who are trying to predict the next move of the dominant coin. And while last month BTC nosedived to around $6,500 after having stayed at $8,000 for some time, the situation is now a bit more stable and BTC is trading in the $7,000 region. Now, the BTC Google searches soar as the price of the cryptocurrency went up and over $7,200 overnight.

However, the downturn from last month showed Bitcoin’s worst market performance over the past seven months – and showed that the flagship crypto asset and its last stoop were at $6,500 in May this year.

Even with this aforementioned reversal, the data on Google Trends indicates that the global interest in the cryptocurrency and the BTC Google searches seem to increase every time the asset witnesses a sudden price movement – whether it’s positive or negative. Just like that, the term “Bitcoin” reached its highest search ranking last month when the coin was trading above the $9,200 mark.

Another interesting point to highlight is that the majority of the interest directed towards BTC seems to be coming from developing African countries. Nigeria, South Africa and Ghana are among the leaders when it comes to the BTC Google searches this period, while smaller European countries like Austria and Switzerland are behind their back.

Data available online also shows that there is a correlation between the BTC Google searches and the price of the cryptocurrency. For example, the period between June 19 and June 29 was a period when BTC rose quite sharply from $9,000 to over $12,900. At the time, the searches also saw a complementary spike. The second time we could see this was between October 20 and October 24, where BTC fell by 9% in a quick drop, and similarly the BTC Google searches also dropped.

As we previously mentioned, the Google Trends data shows that a lot of interest related to Bitcoin (BTC) appears to be coming from developing nations – all exploring the overall potential of distributed ledger technology. Even the blockchain news today feature Google searches as the technology is more and more present everywhere around us.