“Bitcoin” has hit its annual peak in Google searches

Anyone who wants to learn basic things about Bitcoin or answer any questions might turn to Google, the most widely used search engine globally. For this reason, the search metrics provided by this platform have become a measure of the currency’s popularity and even potential price movements.

Unusual data is currently being recorded on Google: Interest in Bitcoin in Google searches reached a level on October 28 that it had not reached since November 2022. At the time, Bitcoin and cryptocurrencies were going through a strong bear market driven by the bankruptcy of important companies, such as Celsuis and the FTX exchange.

According to data from Google TrendsHowever, the word “Bitcoin” has not received such a large influx of requests throughout the entire year of 2023. This growth in interest coincides with a price increase of about 20% of cryptocurrency assetsThis is in light of rumors about the approval of an exchange-traded fund (ETF) requested by the investment company BlackRock in the United States.

Another high point in searches was March 2023Although it did not reach the level recorded at the end of October. Major US banks at the time, such as Silvergate Bank and Silicon Valley Bank, suffered billions of dollars in losses, causing major instability in the financial markets, as reported by CriptoNoticias.

Where was “Bitcoin” searched the most on Google?

During the past month, The users who have contributed most to the growth of the term “bitcoin” on Google live in El Salvador and Nigeria. Followed by Brazil, the Netherlands and Slovenia. If the search is limited to the last seven days (from October 22 to 29), Switzerland is also among the countries most interested in Bitcoin.

The day with the highest number of searches was October 23, when the ETFs BlackRock and Ark Invest appeared on a list with the US Clearing and Settlement House. This decision has increased the chances of this financial product obtaining approval from the Securities and Exchange Commission (SEC) in that country.