Global Google ‘Bitcoin’ searches hit three-month high

30 Oct 2019

Google searches across the globe for Bitcoin – worth $9,200 at the time of writing - are nearing a three-month high, according to Google Trends.

Interest in the world’s largest cryptocurrency by market capitalisation is at its highest level since the beginning of August, when the Bitcoin price was around $11,700.

According to a Coin Telegraph report, three of the top five regions registering the most searches for Bitcoin are located in Africa.

These top five regions are Nigeria, South Africa, Austria, Ghana and Brazil.

As per a report on Tuesday, peer-to-peer crypto trading platform Paxful stated its volumes increased 2,800% over the last year in South Africa.

In addition, the number of Google searches for ‘Blockchain’ didn’t register any major increases or declines, despite being praised recently by the Chinese President wo urged his country to speed up blockchain development.

However, in contrast, searches for ‘Bitcoin’ and ‘Blockchain’ on WeChat trends rocketed.

Chinese government media announced China should fully embrace blockchain technology. Following this state endorsement, stocks in Chinese blockchain A-share companies maxed out to their daily limit of 10%.

Bitcoin has soared by around 16% this week, and last weekend registered its highest intraday gain since 2011, gaining 42% to trade at $10,500.

deVere CEO Nigel Green was quoted as saying this week: “Bitcoin has registered some impressive gains over the last 48 hours after being in a lull period in recent weeks.

“As of now, it has defied the so-called Death Cross – a bearish pattern that takes place when the 50-day moving average falls below the 200-day moving average.

“The $8,500 support has previously acted as a crucial support for Bitcoin. I believe that if Bitcoin bulls can keep the price above this over the next week, the world’s dominant cryptocurrency will experience a breakout and will hit $12,000 before the end of the year.”