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Bitcoin’s Online Popularity Surges as Price Jumps  

Analyst Casts Doubt on Bitcoin Halving’s Role on Institutional Interest

Bitcoin is seeing a price rally once again, marking the second time that investors will be particularly drawn to the price of the top cryptocurrency in 2020. However, the asset is also witnessing a surge in popularity on the Internet as well. 

Bitcoin is a Hot Commodity Everywhere 

Hot on the heels of crossing the $10,000 value threshold, Google searches for Bitcoin have also surged, marking a positive sign for the prospects of the asset. A Twitter user posted earlier this week that searches for Bitcoin on the top search engine have surged by 33 percent in the past week, mostly pointing to a rise in popularity for the asset.

It’s unknown whether the new searches are coming from people trying to learn more about the top asset before making an investment or if it’s just present investors that are checking in on the price of the asset in the wake of the metric crossing such a critical threshold. Several current investors prefer very much to search “Bitcoin” on Google to get its price, as checking on cryptocurrency exchanges or CoinMarketCap might prove to be too much of a hassle. 

Regardless, an increase in searches remains a positive sign for Bitcoin in the long run. Bitcoin is already up 2 percent today, returning to top the $10,000 mark after losing a bit of steam yesterday. Investors will be happy to see such increases. 

Online Popularity Surges Across Other Regions 

Google trends have so far been positive for Bitcoin in 2020. Besides the increase in Bitcoin’s searches, Google searches for “Bitcoin Iran” were also on the rise. This is leading to speculation that investors in Iran could be considering Bitcoin as a hedge against the country’s economic uncertainty.

The Middle Eastern nation declared war on the United States earlier in the year after the Trump administration successfully assassinated Qassem Soleimani- one of the country’s top military personnel. While many on this side of the world have continued to stay on high alert over a possible physical or cyber attack, Iran’s economy has struggled significantly. Even without the prospect of an all-out war against Uncle Sam, the country has been hit with crippling economic sanctions by the United States and the international community. 

To avoid being stranded (and to prepare for anything that happens as a fallout of the country’s conflict with the United States), Iranians have looked into Bitcoin as a possible alternative, essentially fueling the increase in searches for the digital asset on Google.

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      Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.