Data Suggests Bitcoin Interest Could Continue Growing In The Coming Months | UseTheBitcoin
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Data Suggests Bitcoin Interest Could Continue Growing In The Coming Months

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Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Bitcoin (BTC) has been operating very positively during the last few weeks and it was able to reach $11,100, the highest price in over a year. The whole crypto market is excited about the future of the space and many analysts suggest the digital currency could continue growing. At the same time, Google Trends is showing a growing interest in Bitcoin and digital assets as well, which could mean that Bitcoin could still have enough steam to keep growing.

Google Trends Shows Growing Interest in Bitcoin

Back in May, Bitcoin registered a new milestone when its interest levels hit their highest point since February 2018, after the bull trend experienced by the digital currency in 2017. Indeed, Bitcoin became a more popular trend than President Trump or the Kardashians among other topics.

However, Bitcoin is far from reaching an all-time high. At the moment, the digital currency has 12 points in terms of interest, far from the 100 points it had back in 2017. Indeed, almost every single news site around the world was covering different topics about Bitcoin, Blockchain technology and many other crypto-related things.

With a large interest from retail investors in 2017, the digital currency skyrocketed and it reached $20,000, surpassing every possible expected level. If Bitcoin interest continues growing among investors, the virtual currency could register further gains in the coming months.

About the interest in Bitcoin, Grayscale commented:

“Institutional investors comprised the highest percentage of total demand for Grayscale products in the first quarter (73%). This was also consistent with their share of inflows over the trailing twelve months (73%). As we have mentioned in previous reports, many institutional investors may view the current drawdown as an attractive entry point to add to their core positions in digital assets.”

Institutions are also going to be playing an important role in the market in the near future. There are different companies such as the Intercontinental Exchange (ICE) that are expected to be helping large institutions to invest in digital assets such as Bitcoin and Ethereum (ETH). Other companies investing in the space include TD Ameritrade, Fidelity Investments and many others.

At the time of writing this article, Bitcoin is being traded around $11,030 and it has a market capitalization of $196 billion, according to data provided by CoinMarketCap. Moreover, in the last 24 hours, Bitcoin grew 2.8%.

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