Since the end of March, searches for ‘Bitcoin’ have been rising, according to Google Trends.
The unofficial indicator gives an optimistic outlook.
Demands for the word have been growing since the end of March, with weekly levels similar to those before the 2019 rally.
Interest hit 14 on the 5-year timeframe this week. This value is low compared to the highest reported in 2017.
Interest is approaching the peak for 2019 of 24 when Bitcoin rocketed from $ 8,799 to $ 14,000 within a week.
Ratings in Google Trends reflect the absolute volume of searches for a term in a given time frame. The latest data shows that Google processes more searches for cryptocurrency than in the last 11 months.
The value of Google Trends and the price of Bitcoin rose together during the bullish market in 2017 – and also fell together. Until November – December 2018, the volume of demand was only 5, while Bitcoin reached a bottom of $ 3,200.
More and more people are searching for ‘ Bitcoin ‘ on Google. Many of these people eventually buy the cryptocurrency. If we look at a 12-month range, we see that searches for ‘ buy Bitcoin ‘ hit 100 this week.