Global 'Buy Bitcoin' Google Searches Soar Amid Major Crypto Rally
Summary:
As a major crypto rally is underway, global "buy Bitcoin" Google searches have significantly increased, with an 800% growth registered within the UK in the past week. US users' queries regarding Bitcoin's purchase also saw a surge. The rise in interest aligns with Bitcoin's sharp price hike in recent weeks, with the digital currency briefly crossing the $35,000 mark. This flurry is believed to be linked to the possible approval of a Bitcoin spot ETF, which might instigate a major buying wave from institutions. As of now, Bitcoin has noted a significant gain of over 27% in the past two weeks.
In the wake of a significant crypto surge, global "buy Bitcoin" inquiries on Google have skyrocketed, with an impressive 800% growth registered within the United Kingdom in the past week. Research conducted by Cryptogambling.tv revealed an 826% spike in "buy Bitcoin" searches in the U.K. across a seven-day period. The increased interest on a global scale pertaining to Bitcoin acquisition is also remarkable.
The spokesperson from Cryptogambling.tv noted, the impressive escalation of Bitcoin-related searches from the U.K., coupled with the cryptocurrency's rebound, highlight the rising curiosity and the potential impact of legacy financial establishments stepping into the digital asset space. It wasn't just U.K. internet users; a significant rise in Bitcoin purchase-related searches was recorded globally too.
Google Trends data indicates U.S. users questioning "should I buy Bitcoin now?" increased more than 250%, and niche searches like "can I buy Bitcoin on Fidelity?" rose over 3,100% in the past week. In the broader context, the query "Is it a good time to buy Bitcoin?" witnessed a 110% surge worldwide over the past week. The query "BlackRock Bitcoin ETF" progressed by 250%, reflecting the widespread anticipation of information concerning BlackRock’s Bitcoin ETF spot, which is currently awaiting approval.
The surge in interest coincides with a sharp hike in Bitcoin's price over the past two weeks, with Bitcoin momentarily crossing the $35,000 mark on October 24, 2023, a feat not seen since May 2022.
Experts attribute the buzz to the probable approval of a spot Bitcoin ETF, something that industry insiders believe could initiate a significant buying wave from enterprises. Senior ETF analysts Eric Balchunas and James Seyffart anticipate an approval likelihood of 90% by January 10 next year.
As of print time, Bitcoin has seen a substantial gain of over 27% in the preceding two weeks, as per TradingView’s price data. Bitcoin reported a formidable gain of 27.9% in the past two weeks.
Published At
10/27/2023 12:59:00 AM
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