Bitcoin Searches Rocket to 13-Month High Amid 60 Minutes Hype
Bitcoin is back among Google's most-popular keywords for the first time in over twelve months. | Source: Shutterstock
By CCN: Google searches for bitcoin have climbed to a 13-month high, in tandem with its price spikes following the brutal 2018 crypto bear market.
Google Trends tracks search interest for certain terms. Interestingly, the countries that are leading the Google searches are not cryptocurrency powerhouses:
- South Africa.
- The Netherlands.
Rising public curiosity over bitcoin isnt surprising, given how volatile the market has been. An erratic market sparks intense controversy, with proponents and opponents rabidly debating whether the downturn is temporary or is definitive proof that bitcoin is a scam.
As CCN reported, the bitcoin price rocketed above $8,000 last week after it tanked to a recent low of $3,150 in December 2018. Since then, the original cryptocurrency has made an uneasy but steady recovery.
As of this writing, the bitcoin price is hovering at $7,900 after tumbling to $7,000 on May 17, right after New York Blockchain Week and the Consensus cryptocurrency conference concluded.
Observers point out that the price usually experiences a noticeable bump in the lead-up to — and during — the week-long crypto festivities and then plummets in the immediate aftermath. And thats exactly what happened this time around.
Analyst foresaw makings of current rally last month
However, CCN projected back in April 2019 that BTC would soon top $6,500. At the time, the market was still in a slump and BTC was trading at roughly $5,300.
But Naeem Aslam, the Chief Market Analyst at ThinkMarkets, told CCN that a bullish trend was forming with speculative shorts that were pushing the price higher.
Aslam also noted that the current market patterns are similar to those that occurred before previous rallies, when the bitcoin price rocketed to record highs.
Bitcoins Explosive Rally Targets $6,500 Next – Analyst Explains Why https://t.co/nRJSo9OVl0
— CCN.com (@CCNMarkets) April 23, 2019
CBS 60 Minutes shines spotlight on bitcoin
If bitcoin searches are climbing this weekend, its probably because of hype surrounding tonights 60 Minutes episode.
As CCN reported, the cryptocurrency isRead full story on CCN