The world of cryptocurrency has proven to be quite intriguing to keep an eye on. Albeit a lot of people focus on bitcoin, there is much more to this ecosystem than just this one currency, though. According to the recent Google Trends page, interest in cryptocurrency is reaching an all-time high. This is quite a positive development considering the previous “interest peak” occurred during the Mt. Gox collapse.
Consumers Become More Aware of Cryptocurrency
It is good to see the Google Trends chart reflect a growing interest in cryptocurrency altogether. Even though such a trend has been prevalent in the bitcoin sector, it is good to see the overall cryptocurrency ecosystem receive more interest. After all, bitcoin is just one facet of what crypto can bring to the table.
Other currencies appreciated in value over the past few weeks, As we mentioned in a previous article, specific altcoins are seeing a healthy interest from traders and investors these days. Currencies such as Ethereum, Dash, and Monero all part of the overarching cryptocurrency ecosystem, which explains the current Google Trends chart as well. Do keep in mind this is all taking place despite the recent bitcoin ETF rejection.
The previous time such a Google Trend occurred for the “cryptocurrency” search term was back in March of 2014. A lot of people will remember that date, as it highlighted the collapse of the infamous Mt. Gox exchange. Many investors lost money during this collapse and they are still waiting to recover their losses as we speak. So far, it appears that recovery process will not be completed anytime soon, as the bankruptcy trustee is still going over all of the filed claims right now.
What is rather interesting is how the majority of interest in cryptocurrency comes from the United States and Canada. Although that will hardly surprise anyone, other regions are showing a similar increase in popularity. India, Australia, and the United Kingdom, for example, are all on the same popularity level as the United States. Bitcoin and other cryptocurrencies have started to gain mainstream traction in all of these areas and it appears that trend will not slow down anytime soon.
One country that stands out from all the others, however, is Nigeria. Once again, this should not come as a complete shock to people, as the MMM Global scam is running rampant in Nigeria right now. This famous Ponzi Scheme currently only accepts bitcoin payments, as they ditched Naira deposits due to the fact they would be held liable for any financial losses. Bitcoin and other cryptocurrencies remain unregulated in Nigeria for the time being, which spurs some interest in alternative financial solutions as well.
Although a lot of people search for cryptocurrency on Google and other search engines, that does not necessarily mean they will purchase crypto all of a sudden. It is positive to see overall awareness and interest grow in different parts of the world, though. With a bit more traction in the Middle East and South America, things could become very interesting in the coming years. All things considered, matters are evolving in the right direction for the cryptocurrency ecosystem.
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