Google searches for “buy Bitcoin” have experienced a global surge amidst a significant crypto rally, with the United Kingdom witnessing an astounding 826% increase in searches over the past week, according to research by Cryptogambling.tv.
This remarkable surge in the UK, coupled with the cryptocurrency’s resurgence, reflects the growing interest and potential impact of traditional financial institutions’ engagement in digital assets.
While the UK led the way in this search frenzy, a notable rise in Bitcoin-related queries was observed worldwide.
In the United States, searches for “should I buy Bitcoin now?” spiked by over 250%, and more niche inquiries like “can I buy Bitcoin on Fidelity?” saw an astonishing 3,100% surge in the past week.
A broader perspective reveals that the global search term “Is it a good time to buy Bitcoin?” witnessed a 110% increase.
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Concurrently, searches for “BlackRock Bitcoin ETF” soared by 250%, indicative of widespread enthusiasm for information related to BlackRock’s pending spot Bitcoin exchange-traded fund (ETF).
This sudden surge in interest coincides with a sharp increase in Bitcoin’s price over the past fortnight, briefly exceeding $35,000 on October 24, marking its first climb to such heights since May 2022.
This excitement appears closely tied to the anticipation of a spot Bitcoin ETF’s approval, a development that many experts believe will trigger a fresh wave of institutional buying.
Senior ETF analysts Eric Balchunas and James Seyffart have expressed confidence in a 90% probability of approval by January 10, 2024.
Notably, at the time of this report’s publication, Bitcoin has gained over 27% in value over the past two weeks, as per TradingView price data.
In conclusion, Google searches for “buy Bitcoin” have surged dramatically, highlighting the global interest in cryptocurrency, especially in the United Kingdom.
This fervor is intertwined with the recent uptick in Bitcoin’s price and the anticipation of a spot Bitcoin ETF’s approval, indicating a shifting landscape in the world of digital assets and traditional financial institutions’ increasing involvement.
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