Outside Source
‘How to buy crypto’ searches on Google Trends have reached a new all-time high after President Donald Trump’s inauguration. What could this mean for the crypto market?
On Jan 19, the number of global weekly searches for “How to buy crypto” on Google have hit the 100 mark, leaping four times compared to last week’s number and is projected to go even higher as the week unfolds.
The next day, Donald Trump was officially sworn in as President of the United States of America. His presidential term is poised to be much more crypto-friendly compared to the previous Biden administration. Many leaders of leading crypto firms have voiced their confidence in Trump’s administration and its potential to usher in an era of regulations that will benefit the crypto market.
The number of “How to buy crypto” searches surpassed the search engine’s previously recorded all-time high, which was 38 during the week of Dec. 1 until Dec. 7, 2024. That was also the week when the price of Bitcoin (BTC) reached the $100,000 threshold for the first time in history, signaling a significant milestone for the crypto market.
Coincidentally, Bitcoin also reached a new all-time high on Jan. 20 ahead of President Donald Trump’s inauguration, hitting $109,114 before slowly waning. At the time of writing, Bitcoin is trading hands at $101,728 according to data on crypto.news.
Why are people searching for ‘how to buy crypto’?
A boost in “How to buy crypto” searches on a global scale could indicate that more people, specifically first-time buyers, are interested in delving into the crypto market.
These people may have never purchased crypto before and could be interested now due to recent events, such as Trump’s pro-crypto presidency or the price of Bitcoin spiking. At this point, the two events have been inexplicably intertwined, as the previous Bitcoin rally that sparked its $100,000 surge was also prompted by Donald Trump’s win in the U.S. presidential election.
Aside from America, countries like the United Arab Emirates, Singapore, Hong Kong, Thailand and more have expressed outward interest in expanding themselves into digital asset hubs so that they can keep up with the rapid growth of the crypto industry worldwide.
This article first appeared at crypto.news
