Bitcoin recorded its lowest interest level in 3 months, according to recent data from Google Trends. Interest in the leading cryptocurrency started fading away since the completion of Bitcoin’s third halving.
Interest In Bitcoin Lowest Since March
Bitcoin started receiving a lot of attention in January when news about the COVID-19 got to the mainstream.
The trend continued to mid-March when Bitcoin crashed alongside the global stock market due to the pandemic effect. As usual, the massive price swing stirred up curiosity in people, which significantly boosted global interest in the cryptocurrency during that period.
Google Trends reveals that the attention Bitcoin received saw a decrease after the crypto asset recovered from the bloodbath. But as the third halving approached, it became a center of attention again, with Bitcoin searches reaching its highest level since July 2019.
Buy Bitcoin searches also surged as more people were looking for ways to purchase the cryptocurrency, during the March crash and before the halving event.
With the world now adjusting the COVID-19 and the halving completed, Google searches for Bitcoin have greatly decreased to their lowest since March, while also approaching the lowest level since the start of the year.
Nigeria Leads Bitcoin Search
Despite the decline in the global interest in Bitcoin, Nigeria continues to dominate as the region with the highest search interest in BTC.
An earlier report revealed that Nigerians are going wild on Bitcoin amid the failing economy in the country. Bitcoin serves different purposes for Nigerians youths. While some use it as an alternative source of income in terms of trading, others use it for cross-border transactions, the report said.
Following Nigeria closely on the top 5 nations with the highest interest in Bitcoin are Austria, Switzerland, South Africa, and Ghana.
Switzerland was in the 5th place at the start of the year but has moved up to the 3rd position. The country is popular for its Crypto Valley, which is reportedly on the verge of becoming a death valley following the government’s refusal to approve the $103 million funding request to stimulate the industry.