23 March, 2020 | AtoZ Markets – Bitcoin prices have dropped below $ 7000, even though people started to pay more attention to what's going on in the sphere. The peak of searches comes on March 13, when the BTC experienced one of the scariest falls in recent months. Many people around the world are working from home, socially moving away and quarantining themselves after exposure to COVID-19. But online searches for cryptocurrencies have peaked.
No Wonder Chinese Investors Seek Bitcoin
Baidu is the largest search engine in China. It aims to compete with Google in the Asia-Pacific region. According to a report, the Chinese search engine Baidu has seen a considerable jump in searches for Bitcoin (BTC). The data index shows that BTC searches have increased by 183% in the past 30 days.
Mobile traffic is also increasing, which shows that people are looking for crypto information even when they are not working at the computer. Interest may be linked to the theory that a global economic collapse could lead to an increase in the value of cryptocurrency as a hedge against banks.
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Bitcoin Search is Also up on Google
However, Chinese citizens are not the only ones who are increasingly interested in the crypto market. In the US, Google searches for buying Bitcoin are also peaking. On March 13, the number of searches reached a very high peak. On that day, over a billion dollars in long positions were sold in the market.
With a large part of the world's population now more connected than ever, it is not surprising that many are interested in bitcoins. However, the number of search results for buying cryptocurrency is significantly higher than that of people looking to sell it.
In light of the strong bearish trends ruling the classic market, it is strange that Bitcoin does not lose every day. Many holders have almost given up hope of a haven, as the price of Bitcoin fell sharply several times before March 13. Under these conditions, it is good for Bitcoin that new people continue to seek information. While the weak holders get rid of the coins, others almost pick them up on the run.
At the press time, Bitcoin is trading at $ 6310.34. It has increased by more than 8% in the past 24 hours.
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