Bitcoin reached $10,000 – now Google searches are going through the roof

Jun 24, 2019

Data from Google Trends show that Google searches for bitcoin reached their peak level for the month today, following the cryptocurrency reaching the important $10,000 over the weekend.

The figures rose last week after Facebook announced that they will release their cryptocurrency libra next year, even though the Google searches for libra itself went down after reaching high levels the day of the launch last Tuesday.

Still not near 2017

Although Google searches for bitcoin today reached their highest level this month, they are still only around 10 percent of what they were in 2017, when the cryptocurrency reached record prices.

Google statistics are considered important for calculating the future price of bitcoin and other cryptocurrencies. This is because it may show when a so-called “fear of missing out” effect will start. This means people getting curious when the price of, for example, bitcoin goes up because they do not want to miss an opportunity to make money, Cointelegraph reports.

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