{"id":129576,"date":"2020-04-05T17:58:39","date_gmt":"2020-04-05T16:58:39","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=129576"},"modified":"2020-04-25T09:27:48","modified_gmt":"2020-04-25T08:27:48","slug":"global-demand-for-crypto-continues-to-skyrocket-whats-behind-this-trend","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/global-demand-for-crypto-continues-to-skyrocket-whats-behind-this-trend\/","title":{"rendered":"Global demand for crypto continues to skyrocket: What’s behind this trend?"},"content":{"rendered":"

Considering Bitcoin fell by nearly 50 percent during a single day in March<\/a>, it may be easy to assume that interest in the cryptocurrency market is low; this would make sense, for a multi-billion-dollar asset to lose half of its value within a day would normally send consumers running for the hills.<\/p>\n

But interestingly, data shows that demand for Bitcoin and other cryptocurrencies is truly on the rise.<\/p>\n

Demand for Bitcoin & crypto assets is exploding<\/h2>\n

Data shared<\/a> by Yassine Elmandjra \u2014 a crypto-asset analyst at tech investment fund and research firm ARK Invest<\/a> \u2014 shows that the “relative Google search interest” for the term “Bitcoin” is approaching all-time highs (first established at the peak of the 2017-2018 bubble) in “several emerging markets”: Peru, Guatemala, Zambia, Uruguay, Kenya, Nigeria, and Burkina Faso.<\/p>\n

What's interesting is that the strong surge in interest in the leading cryptocurrency has transpired over the past week or two, Elmandjra's chart indicates, counteracting the sentiment that March's crash deterred investors.<\/p>\n

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The relative Google search interest for Bitcoin is approaching all time highs in several emerging markets.<\/p>\n

Burkina Faso, which saw zero Bitcoin interest in late 2017, has seen an explosive rise this month. pic.twitter.com\/HeUEiN1rWn<\/a><\/p>\n

— Yassine Elmandjra (@yassineARK) April 1, 2020<\/a><\/p><\/blockquote>\n