Altcoin News: Google Trends: Interest in Bitcoin Increased After Take-Off

April 15, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

According to Google Trends, user interest in buying Bitcoin increased after the price of the first cryptocurrency increased.

As follows from the graph below, the number of search queries such as “buying Bitcoin” increased significantly on April 3. Note that then the Bitcoin rate reached $5,300, soaring by 26% in two days.

In addition, the graphs show that the frequency of search requests for the purchase of the first cryptocurrency also decreases during the fall of the Bitcoin exchange rate.

Most likely, the increase in the number of search queries after the take-off of Bitcoin price indicates a “loss of profits syndrome”, when users try to buy cryptocurrency in the hope of continuing to grow.

Note that after the take-off of the price of the first cryptocurrency, the number of search queries with the word “bitcoin” has tripled. According to the head of BKCM LLC Brian Kelly, such a rise in the Bitcoin rate may mean that the bottom of the cryptocurrency market has been passed.

Author: Marko Vidrih

Images via Google