Bitcoin continues its positive rally, seeing yet another day in the green and retesting the $5000 resistance for the second time in two days. The cryptocurrency is currently trading around $4,930, while its total market cap is close to $87 billion. BTC dominance had decreased to 50.7% after recording 51.6% yesterday.
As its price continues to crawl up, the public interest is also seemingly gaining steam.
Bitcoin: 7th Most Searched Term in The US
Data from the search mogul’s trending resource, Google Trends, reveals that Bitcoin has managed to climb up to the 7th most searched term in Google USA.
With over 100,000 searches recorded on April 2nd, Bitcoin has surpassed particularly trending terms which traditionally dominate the public interest such as Kim Kardashian and Taylor Swift.
As seen on the chart, not only is Bitcoin more trending, but interest in it is twice as much than that for Kardashian and absolutely dwarfs the trends compared to popular singer Taylor Swift.
In terms of locations, Bitcoin is trending most in Hawaii, Nevada, California, and Washington.
Naturally, the related searches are all associated with the recent spike in Bitcoin’s price, with terms such as “why did Bitcoin go up today”, “why Bitcoin is up today”, and “why is Bitcoin rising”, dominating the most searched keywords.
Are The Bulls Preparing to Charge?
While the increasing public interest in Bitcoin is typically considered to be a positive sign, as we know from the recent but highest crypto bubble so far during the end of 2017, it’s challenging to determine whether the sentiment is turning bullish or not solely based on that. The truth is that, historically, the interest in Bitcoin tends to move with its price, so when the price surges, so do the public interest.
On the other hand, as Cryptopotato reported yesterday, the recent surge was also backed by massive volumes. In fact, the volumes on Binance, the world’s leading cryptocurrency exchange, reached its all-time high yesterday. Moreover, industry proponents are seemingly advocating for a bottom, as well as the start of a new bull run.
Yesterday’s BTC price spike also saw the breakout of the significant resistance level around the $4,200 area, as well as the breach of the 200-MA line which was around $4,600. Notably, Bitcoin is facing resistance at the $5,000 range, so it would be interesting to see where it goes from here.
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