Bitcoin’s record-breaking bull rally is ongoing with full fervour. Google trends show a gushing interest in bitcoin around the globe emanating from the price surge.
The year 2021 seems like the year of bitcoin. The price of BTC broke out of $30K barrier on the 3rd of January. The value of currency hit $42K for the first time in history on Friday last week making things more interesting. This took the total cryptocurrency market cap to $1 Trillion.
The bitcoin became a buzz word with this price movement. Everywhere in the news media, BTC was making headlines. Google trends are also depicting that people’s interest in bitcoin. In the past 5 days since Jan 10th, interest in term ‘bitcoin’ has reached 100 points. It is telling of the fact that bitcoin no longer has a cult following. The currency is pretty much mainstream now.
The people of Nigeria have the highest interest in bitcoin according to the data. Whereas, the European country ‘Austria’ is at the second number with 47 interest points.
Investors are Flocking towards Bitcoin:
As bitcoin becomes the talk of the town, people are increasingly investing in the currency. The top 100 bitcoin addresses have bought bitcoin worth 1 Billion dollars in the last 30 days only. These addresses belong to both individuals and exchanges. With institutional support and fame, the crypto market will find it easier to compete with traditional finance.
Bitcoin is everything that paper money is not. It is not owned by any central body. Noone can inflate or deflate it. The volatility factor will also be out of the equation once the number of bitcoin owners increases. So, we are ushering into the age of digital currency. Those who are not buying BTC are missing out on a big opportunity.
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