Apparently, searches for Bitcoin have increased after the price of cryptocurrency reached the lowest level in the last six months.
According to Google Trends, recent growth in Bitcoin searches appears to be generated by African countries. Nigeria, Ghana and South Africa are in the top three. Austria and Switzerland complete the top five countries seeking information on Bitcoin.
Search terms included prices and other significant topics in the crypto space, such as the next block reward reduction event.
The current level of searches was reached earlier this year, when the BTC price rose to $ 10,000.
Analysts suggest that there is a direct correlation between Bitcoin price volatility and increased interest for cryptocurrencies among the public. This shows that people are starting to want to know more about crypto space.
Although search terms have not grown exponentially, this correlation indicates that, as Bitcoin continues to attract the attention of so many people around the world, Bitcoin price volatility will continue even after the 2020 halving.
Cryptocurrencies, in the attention of developing countries
Recent data from Google Trends also indicates that DLT technologies will play a central role in developing countries. They can solve many of the problems that these countries face because they do not require significant costs compared to the centralized systems at present.
Even if Internet access in these regions is much lower, a correct DLT approach could lead to significant increases in technology use.
Developing countries can reap significant benefits by adopting and implementing distributed ledger technologies. Centralized systems do not work efficiently, and better solutions can be implemented with rapid results.
It remains to be seen if Google Trends data will become a reality.