Google searches for “buy bitcoin” have surged around the world amid a major cryptocurrency rally, with searches in the UK growing more than 800% in the last week.
According to research by Cryptogambling.tv, the search term “buy bitcoin” increased by a staggering 826% in the UK over the course of seven days.
“The notable rise in ‘buy bitcoin‘ searches in the UK, combined with the cryptocurrency’s resurgence, underlines the growing interest and potential impact of traditional financial institutions’ involvement in the world of digital assets,” said a spokesperson for Cryptogambling.tv.
While UK users led the pack, there was also a notable increase in searches related to the purchase of bitcoin (btc) from web users around the world.
According to data from Google Trends, user searches in the United States for “should I buy bitcoin now?” increased by more than 250%, while more niche searches, including “can I buy bitcoin at Fidelity?” increased by more than 3,100% in the last week.
Zooming out even further brings up the search term “Is it a good time to buy bitcoin?” experienced a 110% increase worldwide over the past week. In comparison, searches for “BlackRock bitcoin ETF” increased by 250%, demonstrating broader enthusiasm for information related to BlackRock’s spot bitcoin exchange-traded fund (ETF), which is currently pending approval.
The sudden surge in interest comes amid a dramatic rise in the price of bitcoin over the past fortnight, with bitcoin briefly surpassing a value of $35,000 on October 24, the first time since May 2022.
Related: Peter Brandt Says bitcoin Has Hit Bottom, But Get Ready for a ‘Festival’
The enthusiasm appears closely related to the approval of a bitcoin spot ETF, which many experts believe will unleash a new wave of buying by institutions.
ETF senior analysts Eric Balchunas and James Seyffart have put the probability of an approval at 90% by January 10, 2024.
I’ve received a lot of questions about my current vision for Spot. bitcoin?src=hash&ref_src=twsrc%5Etfw” rel=”noopener noreferrer nofollow” target=”_blank”>#bitcoin ETF for the last two weeks. This is the first section of the note that I published yesterday with @EricBalchunas.
TLDR: Our opinion hasn’t changed much https://t.co/dRAm5IsdQf pic.twitter.com/Htsi3n2XxV
-James Seyffart (@JSeyff) October 13, 2023
At the time of this publication, bitcoin has gained over 27% in the last two weeks. according to TradingView price data.
bitcoin has recorded a powerful 27.9% gain over the past two weeks. Source: TradingView
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