Although the price of Bitcoin (BTC) has fallen considerably since last week, recent data from Google Trends show that the interest in Bitcoin this week has been greater than it was in months.
The data shows that Google searches on Bitcoin were higher last week than in the period after April 8, when Bitcoin's price jumped from $7,000 to almost $10,000. The search term reached its peak on November 20, when the total Bitcoin searches was 3 times higher than the months before.
Other related search terms that score higher now than in the beginning of this year are: "Bitcoin is dead", "Bitcoin will go up again" and of course "HODL."
Also popular in the past week are terms related to the Bitcoin Cash (BCH) hard fork such as: "bitcoin sv," "bitcoin cash sv," and "bitcoin cash hard fork." That is not surprising, because there is a lot of speculation that the current downtrend in crypto was caused by the hard fork of Bitcoin Cash.
A second event that many believe played a role in the downtrend is the postponement of Bitcoin futures on the Wall Street supported cryptocurrency exchange Bakkt. Many analysts expected a rally in December and one of the catalysts would be the BTC futures on Bakkt that would attract institutional investors to the market.
People sometimes say: “There is no such thing as bad publicity." That certainly seems to be the case here. Despite the price drop of the past week, the market welcomes all publicity. Greater exposure among the general public of the cryptocurrency market can only lead to a higher degree of acceptance.
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