Google trends reveals people only want to buy Bitcoin after the price rises

14 Apr, 2019 | Updated: 14 Apr, 2019
by Richard Allen
News
Google trends reveals people only want to buy Bitcoin after the price rises

Data from Google Trends has revealed that the search term “buy bitcoin” has been increasing over the last month parallel to the increase in Bitcoin’s price.

As the chart reveals, interest in Bitcoin packed around April 3, hitting a maximum score of 100 on Google Trends.

At the same time, Bitcoin was trading at around $5,300, a considerable increase of over 26% compared to two days before when it was trading at $4,200.

Based on the search trends, people seem to be more interested in buying Bitcoin when the price is increasing, as opposed to when it’s decreasing. According to the Bitcoinist, this may point to signs of FOMO. The fact that interest declines while Bitcoin’s price slips also points to this type of behavior.

Many in the crypto space believe that Bitcoin has finally found a bottom. A recent report by Binance Research states that cryptocurrency’s steady price recovery from their 2018 lows suggests the market has reached its bottom.

Read more: Binance Research report: the crypto market may have already bottomed out

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Read more about: Bitcoin (BTC)

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