The number of Bitcoin queries on Baidu and Google search engines has increased significantly over the past month. Most users are interested in buying cryptovolta.
Shenliancaijing has published a report, which says about the growth of search queries on the word "bitcoin". So in the search engine Baidu their number has increased by 138% over the past month. Users of the Google search engine also show interest in Bitcoin. According to Google Trends for the past three weeks, their number has increased from 29% to 57% of the maximum weekly number.
The last time this level of interest was observed last June, when the price of Bitcoin reached an annual high. Overall, the public interest in BTC is extremely volatile. As a rule, it rises when prices go up. However, judging by the latest data, users started thinking about buying BTC at the lowest price possible. The Reddit user has published a comparison of Google Trends data in the r/bitcoin branch, showing a much greater interest in buying the BTC than selling it.
Given that the markets for alto and bitcoin are usually closely linked, consumer interest in altokines has not increased in the same way. According to the report, the number of search queries about Ethereum and Ripple has not increased recently.
In recent weeks, all commodity markets have been in chaos, as the world economy is experiencing a severe downturn due to the coronavirus pandemic. Although Bitcoin has stopped declining in the last few days and even recovered slightly, it is too early to talk about further appreciation.
If interest in buying at a low price grows, so does the number of Bitcoin holders who need fiat currencies to pay their bills. Quarantine creates financial difficulties, and the trend to eliminate crypto assets will probably not end soon. In other words, until the economy starts to recover and people around the world are back to work, one should not expect the cryptographic market to stabilize.
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