Bitcoin search at google reaches new highs as it cross over $4000 figure

Hi steemians,

Today is new highs and new achievement for Bitcoin because Google searches for the term ‘bitcoin’ have reached all time highs this month. The volume of search queries for ‘bitcoin’ and related terms are viewed by many traders as a barometer of market sentiment from outside of seasoned cryptocurrency market participants. This search data reflects overall market trends, with bitcoin comprising an increasingly dominant share of all cryptocurrency market capitalizations.

The main reason behind this is continuous growth rate of Bitcoin and involvement of traders. Bitcoin rate for today is $4290 and some experts thinks that this will cross $5000 by next month. Increase in search volume is also due to- bitcoin’s domination of cryptocurrency-related media coverage. Now media is also taking interest in Bitcoin's rapid increasing rate.
It is not the first time that Bitcoin has been a hot topic among Google searches and trends. Not too long ago, it appeared there was a growing interest in cryptocurrency, as more people were actively seeking information about it.

Source: https://www.stockinvestor.com/29206/is-bitcoin-entering-new-megatrend/

David Sacks - The Former Paypal COO, founder of Yammer, and early investor into Facebook, Uber, and Airbnb describes “bitcoin fulfilling PayPal’s original vision to create ‘the new world currency’.” For sacks, Paypal’s belief was to get “enough people to participate” so that “money would never need to leave the system. PayPal could become the database of money.” As with bitcoin today, Paypal “added features like interest and debit cards so you’d never have to withdraw funds to the legacy banking system.” Sacks states that “cryptocurrencies like bitcoin are now fulfilling that original vision. They are doing it in a decentralized way… whereas PayPal tried to do it in a centralized way.”

One thing is for sure, though, and it is that Bitcoin is on the minds of a lot of people these days. The continuing financial turmoil is forcing a mind shift as consumers are pushed to alternative forms of finance. Although an increase in Google searches is quite interesting, it does not mean all that much right now. A peak interest in cryptocurrency could signal much better things to come, albeit it remains doubtful that any major shake-ups will happen overnight.

In addition to bitcoin’s continual establishment of new all time price highs, many are attributing the influx of search volume to the recent resolution of bitcoin’s scaling debate, and alleviation of fears pertaining to a hard fork. The soft fork comprised the resolution of bitcoin’s most significant fundamental uncertainty, reaffirming its status as the leading cryptocurrency project.

Now the question is "Is Bitcoin on Its Way to $5000, and Should You Invest or Stay Away from Bitcoin?"

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Thanks for your time

Be happy and keep smiling

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