Interest in Bitcoin (BTC) seems to be growing on Google after the price of the most popular digital asset grew from $4,100 to $5,300 in just a few hours. Nonetheless, Twitter hashtags continue to slump as time passes.
Bitcoin Sentiment Improves On Google but Not On Twitter
Clearly, when Bitcoin price increased in April, people started to search in Google why the digital price surged and also how to purchase it. This is something that tends to happen when the digital asset spikes in just a few hours. However, the spike was not sustainable. Although the price increased, the interest in the digital asset continued falling.
Meanwhile, Twitter seems to be showing a negative trend in Bitcoin interest. Daily hashtags for #Bitcoin o Twitter have been falling month after month in just a year. Now, it seems that it has found a point of equilibrium close to 20,000 tweets per day.
Some people believe that the downtrend that has affected Bitcoin in the last days – in terms of interest – is related to the fact that the virtual currency has been traded sideways. It is worth mentioning that the interest in the virtual currency could eventually start growing once again in a matter of days if the market skyrockets.
Bitcoin fundamentals are also improving. The Lightning Network (LN) is increasing its capacity, the number of nodes and also the number of channels opened. This would allow Bitcoin to scale and process a larger number of transactions for almost no fees. Additionally, users will have the possibility to make micropayments to other users.
Transactions in the network are also reaching new highs. After a bear market in 2018, Bitcoin transactions surpassed 400,000 per day and could keep growing in the near future. This is the same value as Bitcoin had when it reached $20,000 in December 2017.
At the time of writing the article, Bitcoin is being traded around $5,300. The virtual currency has a market capitalization of over $93.66 billion and it is operating stable in a period of 24 hours.