By CCN: Google searches for bitcoin have climbed to a 13-month high, in tandem with its price spikes following the brutal 2018 crypto bear market.
Google Trends tracks search interest for certain terms. Interestingly, the countries that are leading the Google searches are not cryptocurrency powerhouses:
- South Africa.
- The Netherlands.
Rising public curiosity over bitcoin isn’t surprising, given how volatile the market has been. An erratic market sparks intense controversy, with proponents and opponents rabidly debating whether the downturn is temporary or is definitive “proof” that bitcoin is a scam.
Bitcoin price spiked in lead-up to crypto conferences
As CCN reported, the bitcoin price rocketed above $8,000 last week after it tanked to a recent low of $3,150 in December 2018. Since then, the original cryptocurrency has made an uneasy but steady recovery.
As of this writing, the bitcoin price is hovering at $7,900 after tumbling to $7,000 on May 17, right after New York Blockchain Week and the Consensus cryptocurrency conference concluded.
Observers point out that the price usually experiences a noticeable bump in the lead-up to — and during — the week-long crypto festivities and then plummets in the immediate aftermath. And that’s exactly what happened this time around.
Analyst foresaw makings of current rally last month
However, CCN projected back in April 2019 that BTC would soon top $6,500. At the time, the market was still in a slump and BTC was trading at roughly $5,300.