Gold and Bitcoin have become more popular due to US financial concerns, according to Google Trends. Investors want diversified portfolios amid economic uncertainty.
According to Google Trends, there has been a substantial increase in interest in Gold and Bitcoin, which is partly attributable to the US’s many banking issues.
More people are searching for information on how to buy gold and bitcoin
Google Trends’ 90-day figures suggest that interest in gold and bitcoin is substantially increasing.
In fact, on March 20 during the day, the search term “how to buy bitcoin” had an exact score of 100. The same thing occurred when someone searched “how to buy gold,” but on April 6.
Particularly, the search term related to gold attracted a lot of attention in places like Singapore, Australia, St. Helena, the United Arab Emirates (UAE), and Canada. According to Google Trends statistics, the query score right now is somewhere around 62.
Google Trends shows interest in Bitcoin from places including Nigeria, Guam, Cameroon, St. Helena, and Mauritius.
Additionally, this information surfaced following the failures of three sizable US banks: Silvergate Bank, Silicon Valley Bank, and Signature Bank. The most popular search terms on the search engine in mid-March, in fact, were “banking crisis” and “bank runs.”
Using them as “stores of value” and safe-haven assets, Bitcoin and Gold
Both Bitcoin and Gold have long been thought of as “store of value” investments that can act as safe haven investments during volatile market conditions or dire macroeconomic conditions.
In addition, Bitcoin is frequently referred to as “digital gold,” which is appropriate given that it is seen as the virtual, decentralized equivalent of the traditional gold bullion.
The previous 12 months have shown a significant link between the prices of Bitcoin and Gold, according to Glassnode’s on-chain statistics.
Bitcoin’s (BTC) price in the first quarter of 2023 increased from $16,500 on New Year’s Eve to $23,000 in the middle of February. After surpassing $30,000, BTC is now worth $29,500.
Gold (XAU) saw a similar increase in price, going from $1,823 on New Year’s Eve 2023 to $1,810 in mid-February. Gold’s price is currently $1,985, rising as high as $2,010 in early April.
BTC dominates the B2B sector in terms of transaction volume
CoinsPaid, a platform specializing in crypto payment methods for business-to-business transactions, just published its report for the first quarter of 2023.
According to what has surfaced, it appears that Bitcoin leads the pack in terms of transaction volume even in B2B. In reality, 62.5% of all transactions on the CoinsPaid platform are BTC transactions.
Tether (USDT) transactions come in second with 10.4% of the total, according to CoinsPaid. Ethereum (ETH), with 10.2% of the total number of transactions, would come in third.
The site also notes that the overall number of transactions climbed by up to 3.5 times to 212,637 in the first quarter of 2023.
Once more, the disruption in US banks may be the cause of the rising use of the platform and cryptocurrencies.
