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- The problems faced by First Republic Bank in the US are having a positive impact on Bitcoin
- The banking crisis has made Gold and Bitcoin investors happy.
According to data, the confusion in the banking sector in the US is increasing interest in Bitcoin and Gold.
Google Trends Data Reflects Demand for Gold and Bitcoin!
As the banking sector in the United States faces instability, Google Trends has detected a significant increase in searches related to buying Gold and Bitcoin. In early April 2023, the search query “how to buy Gold” reached 100 points, while “how to buy Bitcoin” reached the same score on March 20, 2023.
After the banking crisis in mid-March, which saw three major US banks go bankrupt, both Gold and Bitcoin gained value.
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As reported by CoinOtag, market observers are closely monitoring the situation of First Republic Bank, which lost more than 50% of its value during Tuesday’s trading session.
90-Day Statistics for “How to Buy Gold” Search Query
Google Trends data shows that the search query “how to buy Gold” has been trending worldwide in the last 90 days. The search term reached 90 points out of 100 on March 20, 2023, and reached 100 on April 6.
The current score for “how to buy Gold” is 62, but the search term has generated significant interest in regions such as Singapore, Australia, St. Helena, the United Arab Emirates (UAE), and Canada.
Historical Trends and Regional Interest in Gold and Bitcoin
Global data from 2004 to the present shows that the search term “how to buy Gold” has a score of 85 out of 100 and was last recorded at 100 points in August 2011.
Google Trends data also shows an increase in interest in the search term “how to buy Bitcoin,” which reached a high score of 100 on March 20, 2023, according to 90-day statistics. The search query for “Bitcoin” was also on the rise from mid-March to April.
The bankruptcy of three major US banks (Silvergate Bank, Silicon Valley Bank, and Signature Bank) in mid-March led to an increase in searches for terms such as “banking crisis” and “bank closures.” The next day, “how to buy Bitcoin” received a score of 96 out of 100 on February 5, 2023, reaching 100 points.
According to 90-day Google Trends statistics, interest in the search term “how to buy Bitcoin” is currently coming from regions such as Nigeria, Guam, Cameroon, St. Helena, and Mauritius.