It is no secret that many traders use the fall of the market to buy assets cheaply. Among experienced traders, there is the concept of “buy bottom”, which has become very relevant in recent weeks. Especially judging by the statistics of Google Trends.
Cryptocurrency trader and analyst Filbfilb shared on his twitter a screenshot of the popularity chart for the “buy bitcoin” request compared to “buy gold”. As noted by the trader, after a significant collapse of financial markets, the request for the purchase of bitcoin exceeded its standard indicators by 200 percent.
— f i l ₿ f i l ₿ (@filbfilb) March 16, 2020
According to statistics, the “Buy Bitcoin” request reached its maximum popularity level on March 13th. The indicator of “Interest Over Time” on this day shows a value of 100 points, although for many months before that it did not exceed 25-50.
It is worth noting that interest in bitcoin, at the moment, is much higher than the interest in gold, which has not been observed since the famous “Cryptocurrency rally” in 2017.