Bitcoin price is approaching $10,000 again – then Google searches went through the roof
Sep 02, 2019
Bitcoin has had a great weekend. Last Friday, the price was as low as $9,350. However, over the weekend it has slowly risen.
During the night to Monday, a bitcoin was traded for as high as $9,832 after the price on Sunday evening soared rapidly by almost $300, according to numbers from Bitstamp.
Looking at the whole weekend, it is a total increase of over five percent for the world’s biggest cryptocurrency, which now seems to aim for $10,000.
“We certainly seem to be moving towards $10,000 again, which is obviously positive. But even more interesting is that the number of Google searches globally on the word “bitcoin” is rising sharply right now. Probably it will take a while before this shows on the bitcoin price, but at least it is good that more and more people are becoming interested in cryptocurrencies”, says crypto expert Totte Löfström to Trijo News.
As the graph from Google Trends shows, the number of Google searches on bitcoin has gone up lately.
Now the question is if this means that more and more people are interested in investing in the cryptocurrency.
“Googling to learn more about bitcoin and cryptocurrencies should probably be considered a normal first step. The next step, when you have learned a little more, is to invest money in this type of asset. And the more people that want to buy, the greater the chance that the prices of cryptocurrencies will go up”, says Totte Löfström.
“The more people that want to buy, the greater the chance that the prices of cryptocurrencies will go up”
Compared to other major cryptocurrencies, bitcoin has performed best over the last 24 hours. For example, ethereum and xrp both show red numbers.
Bitcoin currently accounts for 69.5 percent of the total market cap of all cryptocurrencies, according to Coinmarketcap.