July 24, 2024

The number of Google searches for Bitcoin is growing despite the price drop

The number of Google searches for Bitcoin is growing despite the price drop

Interest in bitcoin from private consumers has intensified after its price fell to a level ofwhich was last observed in May of this year.

According to Google Trends, the popularity of searches for the word "Bitcoin" and related terms has increased significantly over the past week. 

Geographically, the main interest comes fromAfrican residents – Residents of Nigeria, South Africa and the Republic of Ghana show the greatest interest in Bitcoin. Users' attention is focused not only on the price of the asset. Searches for “bitcoin halving” have also grown significantly in popularity. 

Recall that last week the price of BTC fell below $ 8,000, and at the time of writing, the first cryptocurrency is trading below $ 7,000.

It is worth noting that the halving, which is scheduled for May 2020, is considered by many crypto enthusiasts as a catalyst for the further increase in the price of BTC.

However, as previously reported, Bitmain CEO Cihan Wu has expressed skepticism about a possible bullish race for Bitcoin after his halving next year.

Based on materialscointelegraph.com