Google Trends shows a significant increase in search volume for gold and Bitcoin, partly due to various banking crises in the United States.Bitcoin and Gold: Search Engine Queries on How to Buy Them IncreaseAccording to Google Trends' 90 day statistics, people's interest in gold and Bitcoin seems to be rapidly increasing
Google Trends shows a significant increase in search volume for gold and Bitcoin, partly due to various banking crises in the United States.
Bitcoin and Gold: Search Engine Queries on How to Buy Them Increase
According to Google Trends' 90 day statistics, people's interest in gold and Bitcoin seems to be rapidly increasing.
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In fact, the question of "how to purchase Bitcoin" accurately reached 100 points on March 20th. Although on April 6th, the same thing happened when searching for 'how to buy gold'.
Specifically, search terms related to gold have aroused great interest in regions such as Singapore, Australia, St. Helena, United Arab Emirates (UAE), and Canada. According to Google Trends data, the current query score is approximately 62.
Meanwhile, the interest related to Bitcoin in Google Trends comes from regions such as Nigeria, Guam, Cameroon, Saint Helena, and Mauritius.
Moreover, this data emerged after the collapse of the three major US banks, Silvergate Bank, Silicon Valley Bank, and Signature Bank. In fact, the most searched queries on search engines in mid March included words such as "bank crisis" and "bank run".
Bitcoin and gold as' value stores' as safe haven assets
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Bitcoin and gold have always been regarded as "hedge" assets and can be used as safe haven assets in uncertain or catastrophic macroeconomic situations.
Moreover, Bitcoin is often referred to as "digital gold" precisely because it is considered a virtual, decentralized version of classic gold bars.
According to Glassnode's on chain data, there has been a strong correlation between Bitcoin and gold prices over the past 12 months.
In the first quarter of 2023, Bitcoin (BTC) increased from $16500 on New Year's Eve to $23000 in mid February. BTC is currently worth $29500, which previously exceeded $30000.
The price of gold (XAU) has also increased from $1823 on New Year's Eve in 2023 to $1810 in mid February. Currently, gold is valued at $1985 and hit a high of $2010 in early April.
BTC leads in the number of B2B transactions
Recently, CoinsPaid, a platform dedicated to providing cryptocurrency payment solutions for the B2B field, released its first quarter report for 2023.
From the situation that appears, even in B2B, Bitcoin does indeed rank first in terms of transaction volume. In fact, on the CoinsPaid platform, the number of BTC transactions accounts for 62.5% of the total.
Next, CoinsPaid ranked Tether (USDT) trading in second place, accounting for 10.4% of the total. However, Ethereum (ETH) ranks third, accounting for 10.2% of the total transaction volume.
The platform also pointed out that in the first quarter of 2023, the total number of transactions increased by 3.5 times to 212637.
Similarly, the increase in platform and cryptocurrency usage may be a result of the turmoil in the US banking industry
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