According to data, Google search volume for “Buy Crypto” over the past week has reached levels witnessed last during January 2018. The search volume has outdone the interest of 2019’s bull run as well, but it is important to note that “Buy Bitcoin” search volume wasn’t really up.
Bitcoin itself is not getting the same kind of traction, with the search interest for “buy bitcoin” laying flat since the top in May when the halving took place.
Bitcoin’s inability to take advantage of the strong market is identical to its sideways movement witnessed in July.
In the meantime, the total cryptocurrency market capitalization has reached its highest levels as well since April 2018 amassing approximately $383 billion at the present moment.
The increasing interest in cryptocurrency continues to be a good sign for digital assets going in the fourth quarter of 2020 as many analysts speculated that Bitcoin may attain its new-yearly high at the end of the year.
Small-Cap Market Capitalization Weighted Indexes rose 50% in August. In comparison, Bitcoin’s valuation moved up by only 4%, whereas the Mid-Cap weighted Indexes pictured a 13% incline.
A majority of the growth represented by Small-Cap assets came from three assets. OMG token, Yearn. Finance and Theta. Tron and Bitcoin SV were the most affected assets in August 2020, as TRON was down by 85% YTD and Bitcoin SV was down by 104%.
Photo by Benjamin Dada on Unsplash
