“Bitcoin” searches on Google increased drastically over the past week. Despite the rise in Bitcoin searches on Google, the global economic crisis and the most devastating market crash ever, interest in the biggest cryptocurrency is being read.
Worldwide Bitcoin search volume hit a massive boom on Wednesday, March 11, and rose to seven-month high, according to Google Trends data. While Bitcoin was trading just under $ 8,000 at the time, there was no major market collapse yet. When we arrived on March 12, more than 75 billion dollars of money was steam from the market, most of the damage was recorded in BitMEX, where the long position of $ 876 million was liquidated.
After the crash, the “Crypto Fear and Greed Index” fell to the all-time low of 8. The index signaled a major level of fear for the second time in its two-year history.
62% of Bitcoin Investors at Loss
The increase in Bitcoin searches on Google appears as a glimmer of hope for investors who are waiting for a sign. According to experts, Bitcoin will be one of the winning assets of the global recession. While a sector sees Bitcoin, which is allegedly a safe haven, as a savior, 62 percent of Bitcoin investors are at a loss, according to IntoTheBlock’s data.
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