Interest in Bitcoin Spikes Despite the Volatility, or Is It Because of It?

Recent data shows a significant growth in Google searches of the biggest cryptocurrency.

Interest in Bitcoin Spikes Despite the Volatility, or Is It Because of It?

At the time of writing, Bitcoin has managed to reclaim $21K and currently stands at $21,299.29. The sky is not yet clear, however, as the fears of the cryptocurrency falling down under 20K are still present. Many believe that the recent market instability has caused the Google searches of BTC to skyrocket.

As reported by Finbold, the digital asset hit a 12-month high in popularity, according to how many people were searching the term “Bitcoin,” reaching a peak score of 100. Compared to last year, it represents a 35% growth, but what is more significant, the spike from a week prior accounts for a 156% growth.

Unsurprisingly, El Salvador leads in Google searches by a mile, as the only country in the world so far to have adopted the cryptocurrency as its legal tender. Its google search score is also 100. El Salvador is followed by The Netherlands with a score of 27, followed by Nigeria with 26 points, and Switzerland with 22.

It certainly comes as no surprise that the interest in the cryptocurrency spikes amidst the market turbulence and general uncertainty, as controversy has always been a driving factor behind popularity.

On the other hand, the spike can be seen as increased investors’ interest, who might try to hop on the correction wave that is expected to hit anytime now, as experts are now predicting another bull run.

There’s no denying that something is brewing underneath the biggest cryptocurrency and soon we will find out if it is enough to push Bitcoin up again. The rise in interest in the digital asset might as well be one of the first signs that will signal its recovery.

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