Bitcoin popularity surpasses Swift and Beyoncé combined

Author: Xiaoxiang; Source: Metaverse NEWS

"Taylor Swift" Swift has said that "Anti-Hero" is one of her favorite songs she has ever written. But now, Bitcoin seems to be playing the role of an "anti-hero" - even stealing the limelight from pop idols such as Swift and Beyoncé in Google search popularity.

"Taylor Swift" once said that "Anti-Hero" is one of her favorite songs she has ever written. But now, Bitcoin seems to be playing the role of an "anti-hero" - even stealing the limelight from pop idols such as Swift and Beyoncé in Google search popularity.

Google Trends data shows that Bitcoin’s record-breaking gains this month are driving the number of searches for the world’s largest cryptocurrency to more than a year has reached its highest level, attracting more U.S. searches in the past week than the two pop divas combined...

As investors pile into digital assets, Bitcoin has repeatedly set new all-time highs in recent days. The approval of a spot Bitcoin ETF in the U.S. in January, coupled with enthusiasm for the next halving event, in which the supply of newly mined Bitcoin is cut in half, is expected to occur in late April, helping to attract new investors. of U.S. investors are piling into Bitcoin assets.

This is particularly evident in the changes in online search volume.

During the Super Bowl weekend in early February, the search volume for "Taylor Swift" was 14 times that of Bitcoin.

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However, a surge in cryptocurrency search interest in March quickly reversed that gap. Bitcoin's average search rating last week was 53, while the average search ratings of "Tydy" and Beyoncé were 38 and 9 respectively. The combination of the two is not as good as Bitcoin. Google Trends data does not show raw search volume data, but instead uses an index from 0 to 100 to show relative search popularity.

According to statistics, although it has only been around for about two months, the total assets under management of the 11 spot Bitcoin ETFs currently exceed 60 billion US dollars, which is larger than the global The largest gold ETF, the SPDR Gold ETF, has more than $3 billion in assets under management.

Bitcoin price has temporarily fallen back below $72,000 after hitting a record high of $73,797 on Thursday.

It is worth mentioning that although Bitcoin has hit record highs on five of the past seven days, the current Internet search popularity has not yet reached the level set in 2021. High Point. However, it is also important to remind people that a rapid increase in search interest does not necessarily mean real purchase intention.

The last time Bitcoin sparked such high search interest was in June 2022, when Bitcoin fell nearly 40% in a week...

In fact, behind the recent continued rise of Bitcoin, some industry insiders are also worried about irrational speculation in this market. Asian investors have been extremely active during this round of gains. According to TheBlock data, investors in Asian countries such as South Korea account for about 70% of Bitcoin trading volume. Since the advent of Bitcoin, the price has fluctuated all the way, with sharp rises and plummets almost the norm, and the multiple risks facing the market cannot be ignored.