As pointed out by cnLedger, “bitcoin” recently topped the list of hottest new keywords on Baidu, the world’s ninth-largest internet company by revenue that provides China with Google-like search functionality.
— cnLedger (@cnLedger) April 4, 2019
This is particularly interesting given the Chinese government’s ongoing efforts to ban civilian access to cryptocurrencies, although the government did recently approve 197 firms to provide blockchain services including Baidu and Alibaba (BABA).
A similar increase in search interest has occurred on Google in the United States this week, as searches for “bitcoin” are approaching November 2018 highs.
Unsurprisingly, search frequency appears to be very highly correlated to the price of Bitcoin.
Bitcoin is currently up 21.8% in the past week to $5,012, giving the largest digital currency an $88.36 billion market cap — roughly 50.28% of the total crypto market.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.