UK Google "Buy Bitcoin" search queries surge 826%

2023-10-27 03:22:57

By Tom Mitchelhill, Cointelegraph; Compiled: Pine Snow, Golden Finance

Google searches for “buy Bitcoin” have surged globally as cryptocurrency prices have risen sharply, with searches in the UK up more than 800% last week.

According to Cryptogambling.tv research, searches for the term “buy Bitcoin” in the UK soared by 826% in 7 days.

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Search terms related to buying Bitcoin have proliferated worldwide. Source: Google Trends

A spokesperson for Cryptogambling.tv said: "The significant growth in UK searches for ‘buy Bitcoin’, coupled with the resurgence of cryptocurrencies, highlights the growing interest and potential impact of traditional financial institutions to participate in the digital asset space. ”

While UK users lead in search volume, there has also been a significant increase in searches related to users buying Bitcoin on the global web.

According to Google Trends, U.S. users searching for “Should I buy Bitcoin now?” This has increased by more than 250%, while more niche searches include “Can I buy Bitcoin on Fidelity?” Last week, it rose more than 3,100%.

The search narrowed down even further, with the search term “Is now a good time to buy Bitcoin?” Last week, the global gain was 110%. In contrast, searches for “BlackRock Bitcoin ETF” grew by 250%, showing broader enthusiasm for information about BlackRock’s spot Bitcoin ETF, which is currently awaiting approval.

The price of Bitcoin has risen sharply over the past two weeks, with the price briefly breaking above $35,000 on October 24, the first time since May 2022.

This excitement seems to be closely related to the approval of spot Bitcoin ETFs, which many experts believe will trigger a new wave of institutional purchases.

Senior ETF analysts Eric Balchunas and James Seyffart expect a 90% chance that the Bitcoin ETF will be approved on January 10 next year.

At press time, Bitcoin is up more than 27% in the past two weeks, according to TradingView’s price data.

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Over the past two weeks, Bitcoin has gained 27.9%. Source: TradingView

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