According to worldwide data from Google Trends, the search term “bitcoin” scored 93 out of 100 over the past seven days. Additionally, the price of bitcoin climbed above $30,000 for the first time in ten months, or since June 8, 2022.
Bitcoin Search Interest Climbs As Leading Crypto Asset Hits $30K
On Tuesday, April 11, 2023, bitcoin’s price rose above the $30,000 mark for the first time since June 8, 2022. According to statistics from coinmarketcap.com, BTC’s dominance is currently over 47%, the highest it’s been in two years. Currently, there are over 88,000 tweets that use the #cryptocurrency keyword. At 4:00 p.m. Eastern Time on Tuesday, the search term “bitcoin” received a score of 93 percent out of 100 from Google Trends (GT).
A GT score of 100 represents the apex of a search term’s popularity in the selected region and time period. This means that people are searching for the term more than ever before. On the other hand, a score of zero implies insufficient data to measure the search term’s prevalence. Google Trends Data is available in search history back to 2004 and the search term bitcoin received a score of 2 in June 2011 as the first year.
Furthermore, in the last 24 hours, bitcoin searches have increased. Over the past 30 days, the search term received a score of 64 out of 100. On Tuesday, the score for news related to bitcoin was 54 out of 100. However, on April 10, 2023 the score for Bitcoin News jumped to 100. On Tuesday, the cause for the considerable interest shown in bitcoin searches worldwide was due to El Salvador.
El Salvador, Nigeria, The Netherlands, Slovenia, and Switzerland are among the regions with the highest bitcoin search interest. On Tuesday, some vertical trends and related questions included Bitfinex, a license being granted to El Salvador, Bitcoin bonds to be issued, and other stories about bitcoin that have risen to the top of search results including the recent discovery of Bitcoin MacOS devices with the related White paper. The name Nakamoto is also associated with the bitcoin search term.
Although according to GT data, bitcoin is increasing in popularity, the search term hasn’t yet reached the 100-year mark it hit in December 2017. During the 2021 bull market, when bitcoin’s 2017 price peak was surpassed, the search term bitcoin scored 65. As of March, GT data shows that the score of bitcoin search interest in 2023 is 23 out of 100. This score is higher than the 17th out of 100 search term bitcoin received in December 2022.
What factor do you think is behind the increase in bitcoin search interest and will it continue? Let us know your thoughts in the comment section below.
