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The World Wants to Know Bitcoin Price, BTC Forecast and Is It Healthy?

The World Wants to Know Bitcoin Price, BTC Forecast and Is It Healthy? 101
Source: iStock/happyphoton

It's safe to say that Bitcoin (BTC) is the most talked-about cryptocurrency in the world – but in what way have the people around the world been mentioning it in the past 12 months, starting November 2018 when bitcoin price dropped to USD 4,000?

To find out, we’ve looked at different search terms relating to BTC and see how they fare on Google Trends, finding a number of interesting details, and confirming yet again that the activity correlates with the price.

Even a decade after its existence, BTC is for many a controversial topic, and it’s even banned this form of money in certain countries. Nonetheless, many have ‘predicted’ a fortune in its future, coming out of the trouble past, with some researchers seeing large investors coming for this largest of cryptos. The very term ‘bitcoin’ itself has seen large ups and downs in interest over the past year. Not surprisingly, the highest interest in almost all things bitcoin-related was registered in June, when the price hit almost USD 14,000.

It’s important to explain that the term’s peak of popularity is represented with a value of 100 by Google Trends, so 50 means that the term is half as popular. There numbers represent search interest relative to the highest point on the chart for the given region and time.

Many people wanted to know what this much-talked about thing is and have typed ‘bitcoin’ in the last 12 months. It had a value of just 10 starting in mid-November last year, moving between 7 and 12 until May this year, but the popularity of the term started rising, making a smaller peak in mid-May, then a larger one in late June, and jumping to the peak of its popularity in the first week of September 2019. It was half as popular just 2-3 weeks later, falling back to its value of 10 in October. If we look at the interest for this term by region, Nigeria is leading, with the U.S. on 12th place, Germany 13th, South Korea 23rd, followed by Turkey and Russia, etc.

Also, ‘what is bitcoin’ had a relatively steady popularity between 38 and 72, with no particularly dramatic jumps and falls, until its peak in late June, and it’s still going strong at more than half its greatest 12-month popularity. Many people across the world were curious about buying BTC in late August, when Google recorded the peak for the search term “how to buy bitcoin.” While it was mostly half as popular since last November, it saw a smaller rise in searches in mid-May, as well as in late September. But before buying, safety first, so ‘is bitcoin safe’ consistently recorded high values. There were periods when people’s interest for safety was as low as 22, but the searches rose particularly in mid-May and peaked in late June, being quite popular still.

But to buy it, you might want to check if it’s legal first. The search chart shows that many people across the world have been often wondering – and a lot – if the world’s most popular crypto is even legal to have and to hold and to trade. Reaching its peak in late June, ‘is bitcoin legal’ went through quite a few ups and downs, but consistently hold values over or just around 50.

When people figure out the legality in their country, they need to learn how much it costs. ‘Bitcoin price’ started strong at 54 in last November, falling since and not really moving much up until late March, going from 18 to 37, then 68 in mid-May, and finally reaching its 12-month peak in late-June. The searches did fall since then, but it’s still in high 30s. Now that they have some BTC, people may want to sell some. ‘How to sell BTC’ moved mostly around value of 25, rising slightly in March and May, but peaking in late June. It hasn’t seen a value of 50 since, but it has been on a rise towards it in early November.

But when people have it, they also might want to spend some BTC. Searches for ‘spending bitcoin’ are among the more fascinating ones, as there are high highs and low lows. It peaked once in mid-January, but dropped to 0 (meaning that there was not enough data for this term) in January, May and August. When it’s not that low, it’s above 70. Australia, Canada, U.S., U.K,., and India respectively are recorded as the most interested in this term. ‘Bitcoin shopping’ and ‘bitcoin restaurant’ are somewhat less popular, but still often searched, with periods of lower and higher values – higher particularly in May, June and August. Starting with May, ‘bitcoin coffee’ has been popular predominantly in May, late June, early August and late September.

This is as good time as any to do just a short recap of BTC’s path in the last year, as you’ll notice that these jumps in interest match events in BTC’s history. Of particular relevance are BTC’s jumps in late June above USD 10,000, followed by USD 11-13,000, and even coming close to USD 14,000. This last week proved to be a peak of interest for many BTC-related terms in the last year. Other jumps in interests also coincide with BTC’s major changes in prices, especially in November 2018 and May-November period this year, which saw several jumps, and even witnessed a historic rally.

Bitcoin price chart:

The World Wants to Know Bitcoin Price, BTC Forecast and Is It Healthy? 102
Source: coinpaprika.com

Now, let’s say these people have sold their BTC, or never got to buy some in the first place, so the logical step would be to look at the BTC alternatives. And look at the alternatives people did. The chart is wild. This search term reached its peak not once, but twice in a single year: in late December-early January, and again in late June. But it’s been close to doing so at least four more times. The regions leading this search are Ireland, Denmark, UK, Canada, and Australia, with the US being in the 6th place, Turkey at 8th, and France at 10th.

You can’t buy some, but you’d like to earn some? ‘How to mine bitcoin’ had a quite steady trajectory, moving around half its popularity up until mid-May when it saw a spike to 73, followed by its peak – you guessed it – in late June. It dropped since, but still moves above 50, meaning it’s a popular term. You also want to search of ‘bitcoin jobs’ perhaps, again a term with very frequent changes in values, jumping up and down from one week to the next, but people really wanted to know about bitcoin jobs in late November, late May and late June, and it’s still a term going at more than half its popularity. You don’t want to have a BTC-related job necessarily, but getting paid in BTC sounds good to you? Well, want to see a really curious chart? Check out this one.

If this is not your thing, perhaps you want to trade BTC. ‘How to trade bitcoin’ was surprisingly not a thing people googled often, moving below half its popularity until a jump in mid-May and peaking at the end of June. It’s back to its last-November values at around 50. Before and while trading, people ought to check out ‘bitcoin forecast.’ This term saw a smaller spike in late March-early April, then a higher one in mid-May, and the peak of its popularity in late June. On the other hand, people were mostly wondering if BTC is dead in November 2018, when it peaked. It dropped with many smaller fluctuations since. Particularly high interest in BTC’s demise were seen in late December, early February, and mid-August, when the value was 42. In early November 2019, the value was half that number.

Here are some additional and weird BTC-related things curious people googled:

"is bitcoin real money"

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"what is bitcoin used for"

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"how to steal bitcoin"

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"is bitcoin healthy"

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"bitcoin illuminati"

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"which bitcoin is best"

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