Google searches for bitcoin have risen to 19 week highs, according to Google Trend data, reaching levels last seen on Nov. 20.
// STAY UP TO DATE – FOLLOW BLOCKCHAIN DAILY ON TWITTER: @BLCKCHAINDAILY
Google Trends does not specify exactly how many searches occurred, but it’s believed Tuesday’s spike was a result of traders wondering as to why bitcoin’s price increased so rapidly.
Further data has shown the leading number of searches was from St. Helena, Netherlands, South Africa, Nigeria and Austria in that order.
Canada, the U.K., and the U.S. did not enter the top 10, of most “bitcoin” searches, with the U.S. coming in at 11, Canada at 12, and the U.K. in 17th.
Historically, there has been a link between the price of bitcoin and its search interest, with studies conducted to back up this evidence.
The underlying conclusions suggest phases of low search volume tend to herald significant price increases in bitcoin.