In the wake of last week’s cryptocurrency bull run in which Bitcoin (BTC) hit a 4-month all time high amid insights of an end to crypto winter; interest and searches for Bitcoin have tripled on world renowned search engine – Google.
Google statistics show an increase of about 117% in searches related to Bitcoin since it broke the $5000 per BTC resistance level. It is yet to be known if these increased numbers are a result of FOMO that is, the fear of missing out on a possible price rally or other factors.
Here is a list of top five (5) countries where Google search trends for Bitcoin tripled:
- South Africa
Nigeria’s presence on the list comes as no formal surprise. With the country haven recorded huge trade volumes in the past and with BTC serving a perfect use case and substitute for countries in economic downtime and inflation, citizens have opted to Bitcoin as a shield from devaluation and a failing economy.
Other factors to the Nigerian numbers include Bitcoin’s ease of use in the country, possible interests from attendees and public during the Blockchain Conference Nigeria held in Lagos on April 5 as well as a quest to get ready for the next bull-run by the ever enthusiastic citizens.
Second on the list, the Dutch look to reignite their interest in Bitcoin. One possible factor is the growing awareness of the cryptocurrency industry in Netherlands; from meet-ups to conferences and events, the cryptocurrency community is gaining grounds while the general public is kept informed.
The rising BTC price could also be an attributed factor or probably the news of Brock Pierce buying a $1.2 million mansion in Amsterdam with Bitcoin.
South Africa is no new comer to Bitcoin trends. The African nation is the world’s number one in bitcoin usage and also number one in bitcoin/cryptocurrency ownership globally.
South Africans see Bitcoin as an investment vehicle, a means for sending and receiving money across borders.
A likely factor in the bitcoin search numbers is the free role status of cryptocurrencies in the country as there exists no stiff regulations to trade.
Austria’s bitcoin search rise could be linked to the Austria Blockchain Summit held last week. The big event attracted speakers, investors and delegates around the world and expectedly shot up interest among citizens seeking information about the crypto industry.
The Swiss are a surprise presence on this list considering the fact that the Swiss Franc remains one of the most stable fiat currencies in the world and the nation is in no economic hardship at this time.
The country is pretty much Bitcoin educated as you can buy BTC at every train station, with Bitcoin ATMs also readily available. Then what could have triggered this hike in search? Could it be the announcement that the Swiss ‘Amazon’ Digitec Galaxus has begun accepting Bitcoin payments or is the nation also experiencing FOMO stages?
The rest of the top ten (10) list features: St Helena, Ghana, Germany, Australia and Singapore in that order.