Google Trends: Cryptocurrency Users Buy Bitcoin Only When Price Surges

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According to the chart, the interest in Bitcoin (BTC) – the leading crypto by market cap – crowded on Wednesday April 3, reaching an all-out score of 100 on Google Trends. At the time, BTC was trading about $5,300, a significant upsurge of more than 26% as compared to 48 hours before when it was changing hands at around $4,200.

The Google search trends indicate that users become more interested and willing to purchase Bitcoin and other major cryptocurrencies when their prices are steadily skyrocketing, versus when it is plunging – this is due to the fact that people always don’t want to forego a further upturn in the price (the fear of foregoing FOMO). 

Top 5 Countries Where BTC Searches Multiplied in Popularity   
Another indicator bracing this kind of behavior is the correlation between the price trend (increase, constant and decrease) of Bitcoin – when the prices of Bitcoin are increasing, and people’s interest in buying the crypto.   

In addition, during when the prices were increasing, there are top five countries whose people highly participated in searching the word “Bitcoin” on Google. These countries include Nigeria, The Netherland, South Africa, Austria and Switzerland respectively.   

However, several people in the cryptocurrency community think that the flagship crypto has finally or is close to find a bottom. According to the latest Binance Research report dubbed “Investigating Cryptoasset Cycles,” crypto’s stable price rebound from their last year’s slumps shows that the market has hit its bottom.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: http://No link shortners - please include original link/2IE5bUi