News - "Buying Bitcoin": Search volume up 110% worldwide

By Luc Vesters

"Buying Bitcoin": Search volume up 110% worldwide

Bitcoin (BTC)
Developments
Investing

After the BTC price has risen nearly 30 percent in the past 30 days, everyone wants to know: "Should I buy Bitcoin now?" Apparently, it's not just friends of Bitcoiners who are wondering this. But the whole world - everyone has Fear of Missing Out (FOMO). Data from Google Trends shows that there is an increase in search volume for "Buy Bitcoin" worldwide. In addition, the question "Is now a good time to buy Bitcoin?" has increased 110 percent in the past seven days.

In the United Kingdom, search volume increased 826 percent over the past seven days. In the U.S., there was an increase in the number of people asking "Should I buy Bitcoin now?" by more than 250 percent. And in Germany, too, people are once again becoming increasingly interested in Bitcoin.

More specific searches such as "Can I buy Bitcoin from Fidelity?" rose an impressive 3,100 percent over the past week. With an increase of 250 percent, searches were often googled on: "BlackRock Bitcoin ETF". Many investors expect the latter to send a clear signal to the crypto market. If the U.S. Securities and Exchange Commission approves the ETF application, it could lead to a price explosion for BTC and Co.

BlackRock ETF: price catalyst for Bitcoin?

After all: a year after the ETF launch, Bitcoin would be at $59,200, with a market capitalization of $914 billion, according to an analysis by Galaxy Digital. The investment firm is therefore making a rather conservative assumption. "Actual inflows into a Bitcoin ETF could be higher," it says.

The answer to the question "Is this a good time to buy Bitcoin?" is simple: yes. At least, established Bitcoiners and many financial experts would give that answer. But it's not that simple. Ultimately, personal decisions matter most in investing.

Google Trends methodology

Google Trends data are not absolute numbers, but rather the ratio of certain search terms to the total number of searches.

The highest level of this ratio in a given period results in the value 100. For example, a value of 50 means that a search term was searched for only half as often in the given week compared to the previous week.

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