Google searches for ‘buy Bitcoin’ have surged by over 800% in the UK within a single week, indicating a significant increase in interest. This rise in searches is not exclusive to the UK, as Google Trends data reveals multiple spikes in global interest throughout the quarter. However, it is notable that the UK has led the trend with a substantial 826% jump in searches for buying Bitcoin in a short timeframe.
“The remarkable surge in ‘buy Bitcoin’ searches in the UK, combined with the cryptocurrency’s resurgence, underscores the growing interest and potential impact of traditional financial institutions’ involvement in the world of digital assets,” stated a spokesperson from Cryptogambling.tv, as reported by Cointelegraph.
UK Trends
Looking at Google Trends data, the popularity of the search term ‘buy Bitcoin’ in the UK reached a value of 100, which marks its peak popularity in a specific timeframe. While there has been a noticeable spike in searches starting from the previous weekend, it is important to note that this is not an isolated event. Over the past month, the UK has witnessed several significant spikes in interest related to buying Bitcoin.
Global Trends
On a global scale, there is a different pattern in searches for the term ‘buy Bitcoin.’ In the 7-day range, the UK observed its highest point recently, while globally, the trend has been decreasing over the past couple of days, with a value of only 29 today. The peak popularity of 100 was reached on Tuesday in the global context.
Zooming out to the 30-day range, the overall search activity for ‘buy Bitcoin’ appears to be relatively stable. The days with the highest search volume in this period were October 20 and 23, with values of 100 and 99, respectively. Interestingly, the lowest search volume recorded was on October 22, with a value of 72.
Over the past 90 days, late August and early September garnered the most interest globally for the search term ‘buy Bitcoin.’ Similar to the UK trends, late September and early October saw the least amount of interest.
Interest in Bitcoin Searches
The search term ‘should I buy Bitcoin now’ experienced a spike in global searches during the past week, with the highest point reached on October 25. However, when considering the entire previous year, this recent spike only accounted for a third of the interest recorded in mid-November 2022.
‘Bitcoin’ as a standalone term has consistently been more popular than the two aforementioned search terms. This week, both the 7-day and 30-day periods saw the highest volume of ‘bitcoin’ searches. Over the past 90 days, this week’s ‘bitcoin’ searches ranked second-highest, falling only behind mid-August, while November 2022 held the highest spot over the course of 12 months.
This recent surge in global interest in cryptocurrency and buying Bitcoin aligns with the recent rally. As of Friday morning (9:40 UTC), the price of BTC was $34,125, experiencing a 1% decline in a day. Over the past week, it has risen by 15%, and in the last month, it has doubled with a 30% increase. The rally began last weekend, reaching just below $35,000 on Wednesday, as reported by CoinGecko.
Another contributing factor to the recent rally is the ongoing discussion surrounding bitcoin spot exchange-traded funds (ETFs) and their potential positive effects on the world’s first cryptocurrency.
