Interest In Buying Cryptocurrencies At An All Time Low

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best-performing cryptocurrencies in November 2022
  • According to the latest reports, bitcoin has just closed its best January since 2013.
  • With a gain of 39.4%, bitcoin had the best month since October 2021.
  • Despite that, interest in buying Bitcoin and other cryptocurrencies around the world is at an all time low.

Interest In Buying Cryptocurrencies

A new research commissioned by Gembyte.com analyzed Google trends data to find out how high is the interest for buying cryptocurrencies around the world, following the latest report about bitcoin’s best January in the past decade.

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If the past is any indication, bitcoin will close this year on positive returns, as it did in five of the six years it rallied in January.

With the current value of $23,782.10 and predictions of a strong year ahead, it is highly probable that the value of bitcoin will double before Christmas 2023. This means that its price could be as high as $45,000 by the end of this year.

Despite great predictions and a great beginning of 2023, interest in buying bitcoin, as well as crypto in general, is at an all time low around the world.  Searches for ‘buy ethereum’ are on a downward trend as well.

Interest In Buying Cryptocurrencies

Looking at Google trends, the demand for crypto reached its record high in May 2021, when bitcoin prices dropped by 30%, affecting other cryptocurrencies as well. That May, bitcoin prices went from as high as $58,000 to as low as $36,000 in just seven days.

Google trends data shows that Nigeria remains the most interested country in the world when it comes to buying crypto, with bitcoin being the most popular cryptocurrency.