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- During a global crypto rally, searches for “buy Bitcoin” have surged in the UK, experiencing a substantial 826% increase over the past week.
- Taking a broader perspective, the search term “Is it a good time to buy Bitcoin now?” has seen a 110% increase worldwide in the past week.
- This sudden surge in interest coincided with Bitcoin’s price significantly rising over the past two weeks. On October 24th, Bitcoin surpassed $35,000 for the first time since May 2022.
The increase in Google searches for Bitcoin is remarkable, particularly revealing a growing demand in the UK according to Google Trends data.
Rising Interest in Bitcoin Searches on Google
During a global crypto rally, searches for “buy Bitcoin” have surged in the UK, experiencing a substantial 826% increase over the past week. According to research, the search term “buy Bitcoin” saw a striking 826% increase in the UK within seven days.
Although UK users led the way, there was also a notable increase in Bitcoin purchase-related searches among internet users globally. According to Google Trends data, searches in the United States for the question “Should I buy Bitcoin now?” increased by over 250%. More specific searches, such as “Can I buy Bitcoin from Fidelity?” surged by over 3,100% in the past week.
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Taking a broader perspective, the search term “Is it a good time to buy Bitcoin now?” has seen a 110% increase worldwide over the past week. In contrast, searches for “BlackRock Bitcoin ETF” saw a 250% increase, showing a broader interest in information about BlackRock’s spot Bitcoin exchange-traded fund (ETF), which is currently in the approval process.
The surge in interest has pushed Bitcoin’s price to $35,000
This sudden surge in interest coincided with Bitcoin’s price significantly rising over the past two weeks. On October 24th, Bitcoin surpassed $35,000 for the first time since May 2022. This excitement is closely associated with the anticipated approval of the spot Bitcoin ETF, which many experts believe will trigger a new wave of institutional buying.
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Senior ETF analysts Eric Balchunas and James Seyffart estimate the likelihood of approval to be as high as 90% by January 10, 2024. At the time of writing, Bitcoin has seen an increase of over 27% in the past two weeks based on the latest price data.
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