Bitcoin is back in the spotlight as Google searches for the word ‘Bitcoin’ surge to a 12-month high.
The surge comes amid a volatile Bitcoin price, with the world’s largest crypto asset falling sharply to around $60,000 before bouncing back above $70,000.
Google Trends data shows global searches for ‘Bitcoin’ peaking at 100 in early February, signaling significant interest from retail investors.
This phenomenon is often seen when markets experience significant price drops or spikes, as people start searching for information to either understand the situation or consider investment opportunities.
The situation has also caught the attention of market analysts.
Bitwise Europe’s head of research, André Dragosch, described the increase in searches as a sign that retail investors are returning to the crypto market.
This view is supported by CryptoQuant data which shows that investors from the United States started buying Bitcoin again after the price hit $60,000.
However, market sentiment remains clouded by fear.
The Crypto Fear & Greed Index fell to ‘Extreme Fear’, reflecting investors’ concerns about market volatility.
Interestingly, such situations are often seen by experienced investors as opportunities, as asset prices are usually undervalued when fear is at its highest.
