June 23, 2024

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Searches for “buy Bitcoin” on Google rose 826% in the UK

Searches for “buy Bitcoin” on Google rose 826% in the UK

Google searches for the phrase “buy Bitcoin” have soared around the world amid a surge in cryptocurrency prices, with searches in the UK growing by more than 800% in the past week.

According to research conducted by Cryptogambling.tv, the search term “buy Bitcoin” increased by a staggering 826% in the UK over seven days.

Global search terms related to purchasing Bitcoin have increased around the world. Source: Google Trends

A spokesperson for Cryptogambling.tv said: “The significant rise in searches for ‘buy bitcoin’ in the UK, combined with the resurgence of the cryptocurrency, underscores the growing interest and potential impact of traditional financial institutions’ involvement in the world of digital assets.”

Although users in the UK led this increase, a significant increase in searches related to purchasing Bitcoin by users around the world was also observed.

According to Google Trends data, users in the US search for “Should I buy Bitcoin now?” It has increased by more than 250%, while more specific searches, such as “Can I buy Bitcoin from Fidelity?”, have increased by more than 3,100% in the past week.

To expand the perspective even further, the search term “Is this a good time to buy Bitcoin?” It saw a 110% increase globally in the past week. In comparison, the BlackRock Bitcoin ETF grew by 250%, demonstrating widespread enthusiasm for information about the fund. BlackRock Bitcoin Spot ETF (ETF), which is currently awaiting approval.

This sudden surge in interest comes amid a sharp rise in Bitcoin’s price over the past two weeks, with Bitcoin briefly surpassing $35,000 on October 24, the first time since May 2022.

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The excitement appears to be closely linked to the approval of a Bitcoin ETF, which many experts believe will spark a new wave of buying by institutions.

ETF senior analysts Eric Balchunas and James Seyfart estimated the probability of approval at 90% by January 10 next year.

At press time, Bitcoin has gained more than 27% in the past two weeks, according to Data From TradingView.

Bitcoin has registered a strong 27.9% rise in the past two weeks. Source: Trading View

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