According to a report by Bitinfocharts, Bitcoin mentions on twitter alone in February has spiked to two-year highs. This has seen the Bitcoin price hitting the $10,000 mark, although most internet consumers focus so much on data shows.
Growing Bitcoin Tweets in a Day
As per September 2019, Bitcoin was trading at around $9,400. However, the market experienced a drastic change several days later as it increased gaining popularity. The number of tweets that includes Bitcoin grew up to 75,000 on Feb. 2. This has, however, been perceived as a huge standard behavior contrast, as this has been the highest number since 2018.
However, Bitcoin’s market has undergone a precipitous fall from its initial highs of $20,000. Back then, the maximum tweets ranged about 38,000, and its popularity on the market was not that spiked.
In the recent past, the Bitcoin price range has been fluctuating, making it challenging to settle for a particular rate. This has been affected deeply by the drastic increase in tweets and popularity. Satoshi cycle has also stated that the increasing bitcoin price has been stimulated by the higher interests in Bitcoin google searches.
Higher Google Searches
Since August 2019, the number of google activities in relation to BTC has really picked up this month. On average, in the past seven days, users have searched for the term Bitcoin more times since last August.
This is to say, the number of people who find information about BTC on google increased significantly. However, in August 2019, the BTC/USD fell to below $10,000 from highs of $11,800. This price had also dropped from the previous eighteen-month seen highs of $13,800.
According to google trends, countries that lead in Bitcoin curiosity hence increasing the searches are Nigeria and South Africa. They are also closely followed by Austria, Switzerland, and Ghana, respectively.
Although the market had undergone challenges since the end year opposite effect as Cointelegraph reported, BTC has an opportunity to stabilize. The tail-off in awareness and uninspiring price performance are only perceived as last year’s hiccups. The recent Iran events were also a means of disrupting the status quo but were not enough to block BTC/USD development.
With the recent price upgrade, this might be an indication that this could be the year for Bitcoin market expansion. In relation to other topics as Square’s Cash app, it is evident that Bitcoin is now receiving the full payment transaction support.