Bitcoin Surges: UK Searches Soar 826%, Global Interest Spiked by 110%
Google searches for buy Bitcoin have seen a significant increase around the world, with the United Kingdom leading the way with an astounding 826% surge over the past week. This surge in the UK, coupled with the resurgence of the cryptocurrency, reflects the growing interest and potential impact of traditional financial institutions’ involvement in digital assets.
But it’s not just the UK that has seen a rise in Bitcoin-related queries. In the United States, searches for should I buy Bitcoin now? spiked by over 250%, and more specific inquiries like can I buy Bitcoin on Fidelity? saw an astonishing 3,100% surge in the past week. This indicates a widespread enthusiasm for information related to Bitcoin and digital assets.
The global search term Is it a good time to buy Bitcoin? witnessed a 110% increase, showing that people worldwide are interested in investing in or understanding this cryptocurrency.
This surge in interest comes as Bitcoin’s price has sharply increased over the past two weeks, briefly surpassing $35,000 on October 24. This is the first time Bitcoin has reached such heights since May 2022. Experts believe that the anticipation of a spot Bitcoin exchange-traded fund (ETF) approval is driving this excitement. The approval of a spot Bitcoin ETF is expected to trigger a fresh wave of institutional buying.
There is widespread anticipation for BlackRock’s pending Bitcoin ETF, as searches for BlackRock Bitcoin ETF have soared by 250%. Many believe that this ETF approval could open the doors for more traditional financial institutions to enter the cryptocurrency space.
Senior ETF analysts Eric Balchunas and James Seyffart are optimistic about the approval of a spot Bitcoin ETF, expressing a 90% probability of approval by January 10, 2024.
As of now, Bitcoin has gained over 27% in value within the past two weeks, highlighting its upward trend.
In conclusion, the surge in Google searches for buy Bitcoin reveals an increasing global interest in cryptocurrency, particularly in the United Kingdom. The rise in searches coincides with Bitcoin’s price increase and the anticipation of a spot Bitcoin ETF’s approval. This demonstrates a shifting landscape in the world of digital assets, as traditional financial institutions show growing involvement in this space.
Sources:
– Cryptogambling.tv: https://www.cryptogambling.tv/upcoming-bitcoin-etf-approval-triggers-global-increase-in-search-for-buy-bitcoin/
– TradingView: https://www.tradingview.com/symbols/BTCUSD/
