Bitcoin’s popularity increases on Google Trends, as ecosystem develops

2019-6-8 10:20

Bitcoin [BTC], the world’s largest cryptocurrency made a comeback after the cryptocurrency rose in value and market cap over the last month, thanks to a bull run that turned the entire market green. This upward trend also gave a boost to the peripheral Bitcoin ecosystem, putting a positive spin on certain characteristics.

A recent analysis showed that on a year-over-year account, Google Trends data proved ‘Bitcoin’ was trending at its highest point in over a year. The data further revealed that more people were searching for ‘Bitcoin’ and its related entities right now compared to the Bitcoin bubble back in 2013. The analysis also pointed out the stark difference in positive sentiment when the current scenario was placed side by side with the data from December 2017, when Bitcoin price reached its all-time high.

The search results were a testament to the emerging markets as the top 5 countries to search for the cryptocurrency were Nigeria, South Africa, Ghana, Singapore, and the Netherlands. The Netherlands has become a growing player in the Bitcoin industry as the country was also in the top 5 list for having one of the highest numbers of reachable Bitcoin nodes on the planet.

The growing search rate was not the only positive item in the Bitcoin ecosystem as an earlier Binance research had claimed that the world’s largest cryptocurrency had provided far higher returns over the years than most traditional assets. According to the Research:

“Despite its perceived riskiness, Bitcoin $BTC has provided far higher returns than most traditional assets over the past 2 years based on the following risk indicators/ratios.”

When compared to traditional assets like technology stocks and crude oil, Bitcoin was placed first in terms of 2-year returns. While Bitcoin provided a 306 percent yield on its investments, its biggest rival, gold, could only furnish 2 percent in terms of yields. Even without comparisons, the cryptocurrency has provided its holders with an increasing amount of returns on a yearly basis since its inception. The return rates have changed from 4 percent during the first year of Bitcoin’s existence to a whopping 144 percent during its seventh year.

The post Bitcoin’s popularity increases on Google Trends, as ecosystem develops appeared first on AMBCrypto.

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Источник: ambcrypto.com

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