Searches for “BlackRock Bitcoin ETF” increased by 250%, indicating a greater interest.
British internet users who looked for “buy Bitcoin” increased by an astounding 826%.
Searches for “buy Bitcoin” on Google have increased significantly throughout the globe recently, with the United Kingdom seeing an increase of almost 800% in merely the last week. Cryptogambling.tv research found that in only seven days, the number of British internet users who looked for “buy Bitcoin” increased by an astounding 826%.
The amazing increase in ‘buy Bitcoin’ searches in the UK, along with the comeback of the cryptocurrency, highlights the rising interest and possible influence of conventional financial institutions’ participation in the realm of digital assets.
Spot Bitcoin ETF Approval Anticipation
Searches for “BlackRock Bitcoin ETF” increased by 250%, indicating a greater interest in news about the anticipated launch of BlackRock’s spot Bitcoin ETF.
The dramatic surge in interest coincides with Bitcoin’s equally dramatic price gain over the previous two weeks, with the cryptocurrency momentarily hitting a value of $35,000 on October 24 for the first time since May 2022.
Bitcoin’s spectacular Bull Run, unseen for over a year, has driven the whole crypto world into a euphoric craze. Since the New Year began, bears have dominated, blocking all efforts by bulls to recover. Last week, however, was a watershed moment, writing an important new chapter in the 2023 crypto tale.
Bitcoin’s value increased by 23% during the extraordinary week. Its trading price started the week at $28,000, but it broke beyond the $29,000 barrier. The price jumped to $34,787 on October 23 and $35,292 on October 24, marking 17-month highs.
Many analysts predict that the introduction of a spot Bitcoin ETF would trigger a new wave of purchasing from institutional investors, which would explain the current frenzy.