Baidu and Google search trends show increasing interest in buying Bitcoin

According to a recent report, searches for “Bitcoin” on Chinese search engine Baidu have seen a considerable jump. The data index shows that searches for BTC have increased by 183% over the past 30 days, while mobile searches for the cryptocurrency have also seen a surge.
The interest may be related to a theory that a global economic collapse could lead to a gradual increase in the value of cryptocurrencies as an asset to hedge against banking risk.
Google search trends have also increased However, Chinese netizens are not the only ones who are becoming increasingly interested in the cryptocurrency market.
On March 13, BTC’s Google search trends in the United States hit a 30-day high, just as the crypto market had just experienced its largest daily drop in nearly seven years, liquidating long contracts worth more than $1 billion.
What does BTC online search trends mean? Given the world’s large population, it’s no surprise that many people are interested in Bitcoin. However, the number of search results for buying the cryptocurrency is significantly higher than those seeking to sell it.
This data is somewhat unusual, as many people in many major cities in the United States have been advised to self-isolate, and some have lost their jobs entirely. Bitcoin traders may need to liquidate at least some of their assets to cover daily expenses, but it seems that many are planning to buy more BTC.
The crypto market has shown that it is entirely possible to experience the same volatility as traditional markets in the face of a global pandemic. However, after the crash two weeks ago, BTC’s price has stabilized and traders may choose to buy at lower prices.

Source: Cointelegraph