The post Bitcoin Google Search Interest Remains Flat Despite $73,600 Surge: What History Tells Us appeared on BitcoinEthereumNews.com.

While Bitcoin (BTC) has surged past $73,000 this week, Google searches for the leading asset remain low, unlike past peaks. Bitcoin experienced a strong upward surge as the week began, reaching $69,000 by Monday and continuing its climb. By Tuesday, BTC broke significant price thresholds, surpassing $70,000 and then $71,000. The bullish momentum extended into Wednesday morning when Bitcoin hit $73,600, marking its highest value since its record peak in March. Market attention focused on this rally, but recent observations highlighted an unusual trend in search interest. Bitcoin Near ATH, but Mentions Remain Low Recent data suggests that while Bitcoin’s price has approached its all-time highs, search trends tell a different story. Insights shared on X pointed out that, despite the surge, Google searches for “Bitcoin” remained notably low. Historically, Bitcoin’s bull runs have coincided with spikes in search volume, which reflected increased retail participation.  https://x.com/thecryptobasic The 2017 bull run serves as a prime example, with Bitcoin climbing to nearly $20,000 as Google Trends index levels soared past 80. A similar pattern emerged during the late 2020 to 2021 rally, where Bitcoin’s rise past $60,000 aligned with significant search interest, though not reaching 2017 levels. However, the 2024 rally has unfolded differently. Initially, in the first quarter of the year, high search interest in Bitcoin mirrored its all-time high rally to $73,750 in March. Yet, significant interest in searches diminished in the seven months that followed. Now, despite the price nearing record levels again for the second time this year, Google Trends shows lower search interest, suggesting that retail engagement may not have peaked and that the rally has only just begun. Historical Trends Confirm More Upside for Bitcoin  Meanwhile, October has historically been pivotal for Bitcoin’s upward momentum. Market intelligence platform Lookonchain noted a recurring trend: since 2013, Bitcoin…

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Filed under: News - @ October 31, 2024 9:19 pm