2. März 2024

Bitcoin Price Soars Above $30K as Search Interest Surges

• According to Google Trends, the search term “bitcoin” has reached a score of 93 out of 100 in the last seven days.
• Bitcoin’s price rose above the $30,000 range for the first time since June 2022.
• The search volume for bitcoin has increased in the last 24 hours and the search term has a score of 64 out of 100 in the last 30 days.

The digital asset space has been abuzz with activity lately, as the leading cryptocurrency bitcoin continues to break records and reach new heights. The latest surge in interest comes this week, as bitcoin’s price rose above the $30,000 range for the first time in ten months.

This milestone was accompanied by a surge in search interest for the term “bitcoin”, as evidenced by Google Trends data. According to worldwide data from Google Trends, the search term “bitcoin” has reached a score of 93 out of 100 in the last seven days. This score denotes the zenith of a search term’s popularity in the selected region and time period, and indicates that more people are searching for the term than at any other time in the past.

The search volume for bitcoin has also increased in the last 24 hours. Over the last 30 days, the search term has a score of 64 out of 100. On Tuesday, the score for bitcoin-related searches for news was 54 out of 100. However, on April 10, 2023, the score for bitcoin news jumped to 100. This increase in interest was likely due to news that El Salvador officially recognized bitcoin as legal tender, as well as the increasing number of tweets with the hashtag #cryptocurrency.

The surge in interest for bitcoin-related search queries coincides with the asset’s rally to the $30,000 range. According to statistics from coinmarketcap.com, BTC’s dominance is currently over 47%, the highest it’s been in two years. The price of bitcoin rose above the $30,000 range for the first time in ten months, or since June 2022.

The increasing interest in the asset, as evidenced by the surge in search queries and the historic price rally, indicates that the asset is continuing to gain traction among investors, particularly institutional investors. It is likely that the asset’s price will continue to rise, as more investors flock to the digital asset class.