According to recent Google Trends data, interest in bitcoin has reached its lowest level in three months. It began to disappear from the third halving in the history of the oldest cryptocurrency.
Bitcoin interest is the lowest since March
Interest in bitcoin began to increase at the beginning of the year, when information about the COVID-19 virus began to spread to the mainstream. This trend continued until mid-March, until bitcoin collapsed along with the global stock market due to the effects of the pandemic. As usual, huge price fluctuations aroused curiosity in people, which significantly increased global interest in cryptocurrencies during this period.
Google Trends shows that interest in bitcoin began to decline after exiting the deep hole. Then, with the approaching halving, it began to increase again, and the number of searches for the word “Bitcoin” in Google was the highest in this period since July 2019.
The number of Google queries has also increased that more and more people were looking for a way to buy cryptocurrencies during the March crash and before halving.
After the world began to slowly adapt to COVID-19 and the third halving ended, the search for bitcoin-related phrases has fallen to its lowest level since March, and has also approached the lowest level since the beginning of the year.
Nigeria is most interested in bitcoin
Despite a decline in global interest in the oldest cryptocurrency, Nigeria still dominates as the region with the highest demand for BTC.
Nigerians are crazy about bitcoin because of the country’s falling economy. Bitcoin has many uses among Nigerians. While some trade it using it as an alternative source of income, others use it to carry out cross-border transactions.
After Nigeria, the top five countries most interested in bitcoin are: Austria, Switzerland, South Africa and Ghana.
At the beginning of the year, Switzerland was in the 5th place, but since then it has managed to advance to the 3rd place. This country is known for its Crypto Valley, which is reportedly on the verge of becoming a death valley after the government refused to approve the request for funding of USD 103 million.
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