Bitcoin (BTC) is getting popular globally among the people as another means of financial instrument. The rising demand of the gold 2.0 concept is possibly due to the social media giant Facebook’s entry with its own digital currency named “Libra” in the cryptocurrency space.
In fact, Facebook’s entry in the digital currency space can be treated as one of the high impacting catalysts who are spreading awareness about cryptocurrency and the leading digital asset Bitcoin (BTC) and educating the people in its own way due to their huge user base. Interestingly, Facebook is one among the social media giants who earlier imposed a ban related to any initial coin offerings(ICO’s) or cryptocurrency advertisement on its networking platform. However, while seeing the increased user demand and money making techniques, the major technology company itself landed in the controversial digital asset space and ready to change the existing status quo of financial payments and services industry with its own blockchain and crypto asset Libra.
Reportedly, Binance the 2nd largest cryptocurrency exchange report has also suggested the magic of Facebook Libra coin, which knowingly or unknowingly triggered the high volumes in the decentralized digital assets space.
Google Trendz– the analyses website has shown new numbers of the Bitcoin google searches in June 2019, which are mounting on a gradual scale with more education and hype of Facebook Global crypto project. There are many countries where the improved number of Bitcoin (BTC) searches became visible like Switzerland, South Africa, Nigeria, Ghana, and Austria. Project Libra also got searched in a few countries such as Albania, Dominican Republic, Nicaragua, Panama, and Uruguay.
Bitcoin (BTC) is currently trading at $11,020.72 with a $21,069,349,306 total volume (24h) and already captured 59.3% cryptocurrency space out of the total crypto market capitalization of $330 billion and is up by 18.75% in the past seven days. Reportedly, this time the Fomo is not due to the regular retail investors but with the engagement of the institutional investors and the bots which they are running to create more speculations in the market.
The increased google search is also possibly due to its surging price that is denoting the same FOMO which indicated during December 2017, when Bitcoin (BTC) broke all the records and enjoyed a price of $20,000. During that time people invested crazily. However, as of the date the increased google searches are still less as compare with 2017 record.
Image by mohamed Hassan from Pixabay
Tags: Bitcoin (BTC) FOMO, Retails Investors, Institutional Investors, Google Trendz, Digital Assets, Cryptocurrency, Blockchain, Facebook, Libra, ICO, Initial Coin Offerings.
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