2024 Sees Bitcoin Gain Popularity After ETF Approval
In the week of January 7th to 13th, 2024, the search term “bitcoin” reached a peak interest score of 100, according to Google Trends. This surge in interest occurred after the US SEC approved 11 spot bitcoin ETFs. The focus has now shifted to Bitcoin’s upcoming reward halving.
Rising Interest in Bitcoin Searches in 2023
In the previous year, from January 15th to 21st, 2023, the search term “bitcoin” had a rating of 55 out of 100 on Google Trends. The score represents the relative search interest for the term. By March 2023, the score increased to 65.
Throughout most of 2023, the search interest for “bitcoin” remained low, reaching a score of 35 in October. However, interest began to rise, with a peak score of 70 in December. The term finally reached a score of 100 in January 2024.
Decline in Bitcoin Searches After ETF Buzz Fades
After reaching a peak of 100 on January 11th, 2024, interest in “bitcoin” searches decreased to 41 by January 15th. With the excitement around ETFs diminishing, so did the search interest. El Salvador, Nigeria, Switzerland, Austria, and the Netherlands showed the highest interest in “bitcoin” searches during this period.
Topics related to ETFs, the SEC, and other cryptocurrencies like Solana and Tether were popular in searches. Key queries included terms like “bitcoin etf approval,” “bitcoin etfs,” and “bitcoin etf news.”
The Anticipation of Bitcoin Halving
The next milestone for BTC is the reward halving expected in April 2024. The search interest for “bitcoin halving” also spiked, reaching a score of 100 on January 11th. However, interest has dropped since then, with Slovenia, Cyprus, Switzerland, the Netherlands, and Austria showing the most interest. As of January 15th, the search term has a score of 49.
Bitcoin’s Growing Influence and Future Impact
The increase in search popularity, driven by ETF approvals and the anticipation of the reward halving, demonstrates Bitcoin’s influence in finance and technology. Bitcoin continues to captivate global attention and is becoming a part of mainstream economic discussions. However, widespread acceptance and engagement with Bitcoin must be sustained to maintain public interest. Only time will tell its lasting appeal.
Hot Take: Bitcoin Searches Soar After ETF Approvals and Halving Anticipation
The approval of spot bitcoin ETFs by the SEC has resulted in a significant surge in search interest for Bitcoin. This, coupled with the anticipation of the upcoming reward halving, highlights the growing influence and potential future impact of Bitcoin. The search trends reflect Bitcoin’s integration into mainstream economic discussions. However, to maintain public interest, widespread acceptance and engagement with Bitcoin are essential. It remains to be seen how Bitcoin’s appeal will endure in the long run.
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