[2019-04-05] Bitcoin is #1 Trending on China’s Biggest Search Engine During 2019

[cybersofts]

Bitcoin is now top of the list of trending keywords in the Baidu search engine, China’s equivalent to Google.

Due to the recent price surge, #bitcoin tops today's Baidu hottest emerging keywords. (Baidu is like China's Google)


Twitter: https://twitter.com/cnLedger/status/1113662067020427264

After plummeting from the all-time high in late December, Bitcoin reached a low of around $3,200 before surging in recent days above $5,000. The $5,000 line has proved itself to be a crucial battleground as a psychological market of support/resistance. At the time of writing, Bitcoin is testing resistance and trading at $4,997.95.

Understandably, the surge has led to a renewed interest in Bitcoin. The leading cryptocurrency is clearly a hot topic in the enormous Chinese market – Google also shows a major increase.

The following Google Trends search analysis shows a massive spike in Bitcoin searches in recent days. Bitcoin searches more than tripled from 31 to 100 since March 31.




Reference: https://www.ccn.com/bitcoin-is-1-trending-on-chinas-biggest-search-engine-during-2019-highs

[elda34b]

Will we see 2017 again soon?
I think this search stats at least show that some people are definitely interested in Bitcoin when the price rise in a short amount of time, your typical late comer guy, perhaps? But we need them to start the new hype cycle.

[vit05]

Cool. One of the reasons, besides the bear market, for the search of the word Bitcoin go down was that many people searched for other words like blockchain, crypto and other coins. But it is clear that when the prices go up the general people will search first for Bitcoin. And it is interesting that China has still not completely banned Bitcoin from anything. It could eventually emerge and be used as a true P2P coin used to buy things. As the government has only real problem with exchanges, ICo and big companies.

[hugeblack]

The same thing happens when some urgent daily events that affect all parts of the world, such as the start of a war, a natural disaster, or global competitions such as the World Cup.
The higher the price, the more people would like to speculate.

The positive side is that everyone will be searching for "Bitcoin" and thus will raise awareness rather than just temporary speculation.
The downside is that scammers will be ready at the first tab that appears when searching.

[Betwrong]

However, a Chinese civil court ruled that Bitcoin constitutes personal property and has the right to be legally protected as such.

I wasn't aware of that. I thought Chinese government was more hostile towards BTC. Since China hardly can be called a democratic country, in the sense people in the West define democracy, the civil court's decision couldn't be in contradiction with the government's policy. So, it appears that there is a hope for bitcoiners in China.

[buwaytress]

You should check out what's trending or what was trending for the past 10 years. Then you probably wouldn't be so quick to judge what Bitcoin #1 trending really means for Bitcoin.

However, a Chinese civil court ruled that Bitcoin constitutes personal property and has the right to be legally protected as such.

I wasn't aware of that. I thought Chinese government was more hostile towards BTC. Since China hardly can be called a democratic country, in the sense people in the West define democracy, the civil court's decision couldn't be in contradiction with the government's policy. So, it appears that there is a hope for bitcoiners in China.

Just because you can't, for example, use goats in China to pay for taxes, doesn't mean goats aren't personal property and shouldn't be legally protected;)

But seriously, it's more to do with the scams associated with Bitcoin - the government, and the various regional and then lower administrative courts all have some form of autonomy in legal decisions.

[1Referee]

Bitcoin trending #1 could just as easily mean that those who rekt themselves hard are looking for the price to later on dump. People tend to take everything as bullish news, while in reality it's just a very short term reflection of retailers aka dumb money to get excited.

There is no reason to get super bullish until Tether's supply moons, because that's the only way we can tell that new capital has entered the space. As long as Tether is hovering just over/under 2 billion tokens I would remain conservative. The same applies to other stablecoins. Get excited when their circulating supply shows growth significantly.

[BitHodler]

Will we see 2017 again soon?
I think this search stats at least show that some people are definitely interested in Bitcoin when the price rise in a short amount of time, your typical late comer guy, perhaps? But we need them to start the new hype cycle.

It's just cause and reaction. Last year when we fell from $6000 to $3000 search results globally were up too, but it didn't do anything positive for the market at all, and that while people expected a lot of new money to enter the space.

People are curious about what's going on, but that doesn't mean it will translate into something of positive nature. I hope it will this time, but I'm not going to put time into following searches until I see more upwards movement.

[Kemarit]

Will we see 2017 again soon?
I think this search stats at least show that some people are definitely interested in Bitcoin when the price rise in a short amount of time, your typical late comer guy, perhaps? But we need them to start the new hype cycle.

It's just cause and reaction. Last year when we fell from $6000 to $3000 search results globally were up too, but it didn't do anything positive for the market at all, and that while people expected a lot of new money to enter the space.

People are curious about what's going on, but that doesn't mean it will translate into something of positive nature. I hope it will this time, but I'm not going to put time into following searches until I see more upwards movement.

I agree, it's just people natural response to a when bitcoin made news of that sudden spike I''m sure twitter will experience that same reaction as well. There could be some Chinese investors who might invest on the ecosystem, but we won't see 2017 again. LOL. Lot's of irrational buyers and FOMO getting in without really doing research, and they think is that they can be instant millionaires, but they all got burned in matter of months.