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Bitcoin Interest: Trends Say Same as Last Year

Avatar Jayanand Sagar 5 years ago

Bitcoin Price Chart

Despite a year of developments, Google Trends displays that interest in Bitcoin today is the same as a year ago at the same time. Last year during this time Bitcoin was coming off the hype of the Cyprus banking crisis and MtGox had temporarily shut down its site because of attacks causing a panic sell-off.

The story this time isn’t that different, pressures from the People’s Bank of China and the collapse of MtGox have caused prices to fall and has left interest waning. But now people shouldn’t hear too much about these stories and if they do, it seems like only positive news can come from it.

Prices and the news are pretty well correlated, as with a lot of assets. This time, although interest is same, prices seem to have enough resistance to stay above the $420 price level and should stay above if no negative news plights Bitcoin.

In essence, for now, no news seems to be good news. If Bitcoin is allowed to progress free of negative news, it will ease venture capitalists and allow entrepreneurs to continue working on their projects.

Industrialized nations are beginning to see the light as jobs are created and regulators clarify the rules for these companies to do business, but can Bitcoin stay relatively quiet anymore? Probably not, but we will have to wait and see what sparks new interest.

[textmarker color=”C24000″]Souce[/textmarker] Google Trends

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