Since the start of 2020, Bitcoin has been gaining ground rising from below $7,000 to the current levels above $10,000. Bitcoin surging above $10K has catapulted it back into the mainstream interest. However, internet consumers were paying attention even before as data shows.
Statistics from Bitinfocharts show that in early February, mentions of Bitcoin on Twitter alone exploded to two-year highs.
75K Bitcoin Tweets Daily
BTC/USD traded at around $9,400 at that time. That represented its highest level since September 2019 a few days previously. Tweets that include Bitcoin reached 75,000 on Feb. 2. That is a significant contrast to standard behavior and the most since early 2018. That happened when the markets were slowly digesting the catastrophic fall of Bitcoin from all-time highs of $20,000.
The following days saw quite fewer tweets about 38,000. But, that figure is still considerably high compared to the months before the spike.
The searches are highest since August 2019. Google search activity spiked in February with the analysis for the term ‘Bitcoin,’ showing that users searched for the term more in the last seven days than any other time since August last year.
BTC/USD fell from highs of $11,800 to levels below $10,000 in August 2019 after registering eighteen-month highs of $13,800 previously. Previous reports stated that the end of 2019 had the opposite effect that was uninspiring price-performance, which accompanied a tail-off in awareness and interest online.
Moreover, the events in Iran in January went a long way to disrupt the status quo. Currently, it is South Africa and Nigeria that form the primary sources of renewed traffic about Bitcoin as Google Trends show. Ghana, Switzerland, and Austria follow them.
Square’s Cash app is a noticeable feature among the most popular related topics. This payment service offers full support for Bitcoin transactions.