Bitcoin returns to $10,000 mark, Google search index hits all-time high

After a long period of consolidation, Bitcoin once again surpassed the $10,000 mark today. In Google searches, BTC suddenly soared to a historic high, with a nearly vertical spike in search volume exceeding twice the peak of the bull market in 2017.

Among them, the top search volume is the Bahamas, located in the southern United States, actively developing a national digital currency. The country's central bank signed an agreement on the development of a legal encrypted currency system on May 30, creating a project called "Project Sand Dollar."

This Google Trends chart also applies to some Western countries. Searching for the United States or Turkey as regions yields almost the same trend chart.

According to previous reports by ABM, Turkey also includes the central bank digital currency in its economic development plan. In October of last year, the country's fiat currency devalued significantly, with an inflation rate reaching 25.24%, prompting people to turn to Bitcoin.

Furthermore, a report released by the international financial group ING this year shows that as many as 36% of the sample population in Turkey are willing to receive salaries in the form of Bitcoin, and about 18% of the Turkish people hold cryptocurrencies, ranking first in Europe.

According to a report, besides Bitcoin returning to the ten-thousand mark, it is still unclear why BTC in Google Trends shows a significant surge, while keywords like Bitcoin, Ethereum, and others do not show as noticeable fluctuations.

The Bitcoin search trend in the UK also presents an interesting phenomenon. ABM previously reported that the approaching Brexit date in the UK caused the Bitcoin Google searches to peak.

In fact, since March of this year, the Bitcoin search index in the country has even surpassed the UK Prime Minister Boris Johnson and the Brexit agreement.

It is understood that since the Brexit referendum in 2016, the pound exchange rate has been continuously declining, which may lead the people of the country to invest in other asset classes, including cryptocurrencies like Bitcoin.

As of now, according to the data platform Coinmarketcap, the price of Bitcoin has returned to $10,374.89, with its market dominance reaching 70.1%, once again hitting a new high for the year.

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