The popularity of Bitcoin has surged worldwide as the cryptocurrency continues to rally, with Google searches for “buy Bitcoin” increasing significantly. In the United Kingdom alone, searches for the term “buy Bitcoin” rose by an astonishing 826% in just one week, according to research conducted by Cryptogambling.tv. This surge in interest and the resurgence of Bitcoin highlights the growing intrigue and potential impact of traditional financial institutions entering the digital asset world, as stated by a Cryptogambling.tv spokesperson.
However, it wasn’t just the UK that experienced a surge in searches related to purchasing Bitcoin. Users from all over the globe displayed an increased interest in acquiring the cryptocurrency. In the United States, searches for “should I buy Bitcoin now?” increased by more than 250% within the past week. More specific searches like “can I buy Bitcoin on Fidelity?” soared by over 3,100% during the same period.
On a global scale, the search term “Is it a good time to buy Bitcoin?” witnessed a 110% surge over the past week. In comparison, “BlackRock Bitcoin ETF” experienced a growth of 250%, indicating a broader enthusiasm for information regarding BlackRock’s spot Bitcoin exchange-traded fund, which is currently awaiting approval.
This sudden surge in interest coincided with a substantial increase in the price of Bitcoin over the past two weeks. On October 24, Bitcoin briefly exceeded a value of $35,000 for the first time since May 2022, according to Cointelegraph. The excitement surrounding Bitcoin is closely linked to the anticipated approval of a spot Bitcoin exchange-traded fund, which many experts believe will trigger a fresh wave of institutional buying.
Senior ETF analysts Eric Balchunas and James Seyffart predict a 90% probability of approval by January 10 next year. These analysts’ view on spot Bitcoin ETFs has remained relatively unchanged, suggesting a high likelihood of approval in the near future.
As of the time of publication, Bitcoin has seen a significant gain of over 27% in the past two weeks, based on data from TradingView. This remarkable increase in value signifies the continued strong performance of Bitcoin in the cryptocurrency market.
Overall, the surge in Google searches for “buy Bitcoin” reflects the growing interest in cryptocurrencies, particularly Bitcoin, and the anticipation surrounding the approval of a spot Bitcoin exchange-traded fund. This increased attention from both individual and institutional investors highlights the continuing influence and potential of cryptocurrencies in the financial world.