Wednesday, February 21

Google searches for the word “bitcoin” are at their 6-month highs


The interest in bitcoin (BTC) has increased in the last 6 months, surpassing in this month of January the moment in which the cryptocurrency reached its last historical maximum of USD 68,000 in November 2021.

According to the scale shown by the Google Trends website, it can be seen that bitcoin reached an average of 51 points on a scale of 100, today, January 31. said rebound achieved it for the first time since June 2021, when he reached 52 points.

It is worth remembering that Google Trends is a tool that shows the most popular search terms of the recent past.

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In that sense, they use a scale of interest over time that goes from 0 to 100, where 0 is a sign that the word is not being searched for, while 100 represents that it enjoys the greatest popularity among engine users. search.

Google metrics show an uptick in searches for the word “bitcoin” since June 2021. Source: Google Trends.

As mentioned at the beginning, the word “bitcoin” was not so sought after in November 2021, when the cryptocurrency reached an all-time high of USD 68,000, a fact reported by CriptoNoticias.

It should be noted that this January there were two peaks, specifically, on January 22 and 24, which correspond to the drop in price last week. This indicates that interest may be growing at the moment, perhaps due to investors’ desire for details on the causes of the drop and future forecasts.

It can be interpreted that bitcoin arouses the interest of the public, even though it currently has a price of USD 37,000, which represents a drop of 45% compared to the highest price achieved last year.

The word “bitcoin” in El Salvador

Google’s tool, in addition to showing the popularity of words in its search engine, also reflects interest in countries.

In this case, El Salvador is at the top of the list of nations that most search for “bitcoin”, with an average of 100/100.

El Salvador leads the search for bitcoin in the world, ahead of countries like Nigeria, the Netherlands, Turkey and Switzerland. Fountain: Google Trends.

This is undoubtedly driven by the adoption of the cryptocurrency in the Central American country as legal tender and the controversy that has been generated in that country around BTC. Decision that put that nation and its president, Nayib Bukele, at the center of debates around the world.

Until now, the measure has encouraged more people, especially bitcoiners, to become interested in what is happening in El Salvador. The transcendental of the measure is such that the couple of American journalists Max Keizer and Stacy Herbert, strong defenders of cryptocurrency, plan to nationalize and stay in that country for a long time.

The other side of the coin is represented by international financial organizations that have criticized the adoption of bitcoin, one of them has been the International Monetary Fund (IMF).

The IMF recently said that the arrival of bitcoin in el salvador“involves serious risks to financial and market integrity, financial stability and consumer protection.”

The IMF’s position joins that of the US risk rating agency, Moody’s. An analyst from this company warned that the risks for El Salvador would increase if the government continues to buy more bitcoin.



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