After the long term inactivity of the leading cryptocurrency Bitcoin, the markets seem to have returned to the movement. BTC, which has just begun to come to itself after the sensational rises experienced by Altcoins, has exceeded $ 9,300 and broke an important resistance point.
Bitcoin Searches Decreased
There is a serious drop in Bitcoin searches on Google. According to Google Trends data, Bitcoin’s search rate on Google has seen its lowest level in the past year. It is thought that the volatility of the price seeing the bottom is effective in reducing the interest in Bitcoin worldwide.
In the last 7 months, price volatility seems to be the main element of interest for Bitcoin. Looking at Google Trends data, it is seen that Bitcoin searches got 45 points out of 1 – 100. The important point for investors was that Bitcoin had a serious rally after getting 41 points in Google searches on December 29.
Bitcoin, which was traded at $ 7,200 at that time, showed a fast outflow up to $ 10,300 after the searches for a period of decreasing volatility. As expected, this price increase has increased the score of Bitcoin on Google to 62.
In fact, it is possible to say that this is a direct result of diminishing volatility. When volatility decreases, people’s interest in Bitcoin and the number of searches naturally decrease. Now, the resurgence of the movement can increase the score of Bitcoin on Google.