Bitcoin’s price has recovered to $4000+ levels today as search tendencies for the term rise globally.Observed by the Google Trends and TradingView charts below, this correlation may mean that, with Bitcoin’s price dropping recently, investors on the sidelines may have been enticed to commit. In the short-term, a lot of this search sentiment is most likely due to the onslaught that happened to the cryptocurrency markets over the course of the last two weeks. Mainstream media is paying more and more attention to everything blockchain and this, in turn, facilitates interest in cryptocurrencies — and Bitcoin, specifically. Today, Bitcoin’s price has recovered and is in the green, but it may not be anything more than a dead-cat bounce. In recent news, a cryptocurrency ETP from Amun Capital was listed on the SIX Swiss Exchange last week and has since become the most popular product traded on the platform. The U.S.-based cryptocurrency ETF efforts are under water for the time being, however, with Bakkt delaying the launch of its Bitcoin futures platform. The U.S. market has a lot of restrictions for individuals and institutions to buy and own cryptocurrency. A regulated ETF will open the doors for U.S. investors to safely participate and is very important for the performance of these assets. Finally, Bitcoin is a great starting term to search for and most people looking to know more about blockchain and cryptocurrencies start there. For many that are already involved with cryptocurrency, it may come as a surprise that the majority of people do not know, and do not care to know, about anything blockchain related. Major price movements and mainstream media attention sparks interest in individuals and the first term they are looking for is the most popular cryptocurrency, Bitcoin. With prices being at the lowest range for the entirety of this year, it is safe to assume that investors who missed the opportunity to invest in Bitcoin will be looking to do so in the near future. Do you think Google searches for Bitcoin correlate to buyer interest? Let us know your thoughts in the comments below!
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