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Monday, 21 September 19:20 (GMT -05:00)



Foreign exchange market

Investment Interest In Bitcoin Drops After Halving


According to the recent information from Google Trends, the investment interest in Bitcoin reached the lowest level in 3 months. The interest in Bitcoin started growing in early 2020, when the international media started talking about COVID-19. The tendency persisted until mid March when Bitcoin crashed along with the global stock market because of the pandemic. Still, people got interested in cryptocurrencies as safe-haven assets.
 
Google Trends shows that the interest in Bitcoin started decreasing in Q1 2020. Later on, ti started recovering gradually as the coin was nearing another halving. During that period, the amount of Bitcoin search requests in Google was at the highest level since July 2019. This happened mainly due to the fact that people were looking for an opportunity to load up on Bitcoin ad a discount after the March market crash.
 
After the world started gradually adapting to a new world amid the pandemic, the 3rd halving of Bitcoin took place, which lead to a sharp drop in the amount of Google search requests to the lowest level since March.
 
 
Nigeria Is Interested In Bitcoin
 
Despite a drop in the global interest in the world's first cryptocurrency, Nigeria keeps on dominating as a region with the biggest demand for BTC.
 
The Nigerians are getting increasingly interested in Bitcoin because of a weakening national economy. Bitcoin has been heavily used in many aspects of their lives. While so fo them trade Bitcoin to make profit, others use it as a payment means. Other countries with high demand for BTC include Austria, Switzerland, South Africa, and Ghana.
 
 
At the beginning of the year, Switzerland used to be number 5 but has moved to number 3 since then. The country is famous for its Crypto Valley, which is said to have been on the edge after the local government refused to finance it to the amount of 103 million dollars.
 
As for the current BTC exchange rate, you can always check on the official website of NordFX, a recommended FX broker, which also offers BTC and altcoins trading.
 

 

 

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